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Glasgow
+44 (0)141 221 2984

Edinburgh
+44 (0)131 225 6366

Stirling
+44 (0)1786 451745

Dumbarton
+44 (0)1389 765238

Hamilton
+44 (0)1698 459444

French Duncan

Auto-enrolment - Two thirds of SMEs are unaware of staging date

02 September 2014

The firm’s research, which surveyed 750 small and medium-sized enterprises (SMEs), found that nearly a third (32%) of respondents felt they do not know enough about auto-enrolment to be able to gauge its impact. Nearly half (49%) of respondents said they understood little or nothing about the changes they will need to make, whereas more than a third (35%) said they have done nothing because they do not know how to start.

The research also highlighted that 30% of respondents are worried about the set-up costs; 62% are concerned about the ongoing expense of making employer contributions to staff pensions; and 47% stated their fear of the extra administration involved in managing a pension scheme.

From 1 August, employers with more than 60 PAYE employees have had to comply, and by August 2015 and employers with fewer than 30 staff will have to have an auto-enrolment schemes in place.

Although smaller organisations have a later staging date, employers still need to be on the ball regarding their obligations and expert financial advice should be sought when choosing an auto-enrolment scheme and planning your budget.   

You can find information about staging dates by following this link:

http://www.nowpensions.com/auto-enrolment-staging-dates/

If you would like any further information, please contact our HR Manager, Louise McCosh by email or call 0141 221 2984.