Auto enrolment pension schemes

According to law firm Hugh James, more than 40% of firms have put off bringing in compulsory automatic pensions for staff in the last year after under estimating the work needed to introduce them.

It found 4,590 businesses of the 10,817 that have had to auto-enrol staff so far have postponed the move. As only those with 250 or more employees have reached their deadline, it expects more to postpone as the one for smaller firms nears.

Businesses can postpone the scheme for up to 3 months and one of the main reasons for delaying appears to be lack of preparation.

Need help? Here at Investment Solutions we have a team of qualified advisers who can help you through the paperwork, provide advice as to the most appropriate scheme to meet your requirements, give Independent Advice as to options & install a scheme (if required).

We are here to help.