Recent research carried out by NOW: Pensions suggests that auto enrolment is not a major concern for many of the UK’s small businesses.
Despite the launch of a large scale workplace pensions reform campaign by the Government and the risk of fines for non-compliance, just 3% of the respondents surveyed by NOW: Pensions believed that the new company pension scheme was not a top priority for their business.
Sales (34%), access to finance (12%) and the EU referendum (7%), ranked the highest in the top 10 concerns in 2016 for business owners surveyed.
Whilst it’s apparent that it may not be a large concern for businesses yet to stage, it’s hugely important that you prepare for the new workplace pension scheme to avoid unnecessary penalties from the Pensions Regulator.
KashFlow Payroll offers a complete, end-to-end solution for auto enrolment, including:
-A pension scheme setup wizard including postponement and deferrals
-Automated assessment within each payroll run
-Automatically generated communications for each employee
-Output files generated for chosen pension providers
KashFlow also provides training on auto enrolment through two in-depth courses on auto enrolment legislation and how to prepare yourself for workplace pension reform using KashFlow Payroll.
You can call our on-boarding team on 0800 133 7529 to learn more or alternatively visit this page for more information.
If your business is staging in 2016 then we have compiled a free guide for you containing the 7 top tips which could make your business’ auto enrolment process run more smoothly and help steer you away from receiving fines for non-compliance.
Download the 10-page guide to explore how to find the right pension provider, choose the right business software, how to assess your workforce plus everything else you should know on tackling automatic enrolment.