With just over a year to go before the largest employers begin auto-enrolling workers into pension schemes, companies need to be prepared, a provider says.
Two-thirds of employers with no pension scheme say they are unlikely to auto-enrol employees into the National Employment Savings Trust or a qualifying scheme, ACA research finds.
Most large employers are still not properly prepared to meet the regulatory requirements of auto-enrolment, Standard Life research reveals.
The Pensions Regulator has released online interactive tools to help smaller businesses begin preparing for automatic enrolment.
Companies could be wasting £2.1bn a year by auto-enrolling workers who will not benefit from pensions, a consultant warns.
More than three quarters of finance directors are in the dark about fines which could be levied on businesses for failure to comply with auto-enrolment regulations.
The introduction of employer duties is seen as the top barrier to sole traders taking on their first member of staff, a survey finds.
Employers who operate pension funds which give short service refunds value the option and planned government reforms would result in definite scheme changes, research reveals.
Financial secretary to the Treasury Mark Hoban has defended auto-enrolment after a senior pension adviser labeled it the next mis-selling scandal.