Research by the Pensions regulator shows that micro employers are unprepared for auto enrolment with as many as 20% of them unaware of their staging date.
When asked if each size of business understood all five key features of the reforms, the results showed that the smaller the business the smaller the percentage of understanding. Businesses with between 50 and 60 workers displayed 85% of understanding, whilst only 49% of micro employers understood these five key features of Auto Enrolment.
The research into the attitudes to the changes in the pension scheme revealed varying opinions. On a positive note at least 74% of all businesses who will be involved in the changes to pensions state that they will be able to deal with the admin demands and view the changes as a good idea in principle. However 49% of micro employers believe that it will be financially difficult to make contributions to the scheme.
If you are unaware of your businesses staging date for auto enrolment call us now on 0113 2864486 with your PAYE reference and we will find out for you.
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