Partner Article

Brighton businesses not ready for pension auto-enrolment

A survey of Brighton small and medium-sized businesses by Brighton based Quartz Payroll & Auto Enrolment reveals that more than two thirds of local companies (70%) are still not prepared for the introduction of pension auto-enrolment. This is despite the new government legislation coming into effect for SMEs over the next 18 months.

The survey found that only 17% of companies in the city considered themselves completely prepared for the new pension laws. This is compared to more than a third who feel completely unprepared.

Companies are also struggling to understand the important pension deadlines affecting their business, with three quarters of businesses admitting the do not know their auto-enrolment staging date – the date by which they must comply. For businesses with fewer than 49 staff, the next staging dates are imminent, taking place on 1 August, 1 September and 1 October - the staging dates for larger companies have already passed.

Kirsty Wild, Quartz Payroll & Auto Enrolment marketing manager, said: “It is a real worry that so few Brighton businesses fully understand their legal obligations in providing an auto-enrolment pension for their employees. Not only will staff be negatively affected by these inefficiencies, but employers themselves risk facing government penalties.

“However, despite the advice that claims auto-enrolment takes six months to prepare for, it is not too late and small and medium sized companies can set up a suitable scheme in a matter of weeks!”

* The survey was commissioned by Quartz Payroll and conducted by Obsurvey. The online survey polled 100 Brighton employers and employees working in businesses with between 1-10 and 100+ staff.

This was posted in Bdaily's Members' News section by Quartz Payroll & Auto Enrolment .