A recent survey of more than 2,300 small and medium sized businesses (SMEs) in the UK has revealed that a third of SMEs do not know what pension auto-enrolment is.
When asked the question “Has your business already complied with pension auto-enrolment?” 35 per cent of respondents didn’t know what auto-enrolment was, and 33 per cent answered ‘no’.
The research, conducted by Bidvine.com, also shows that of those businesses that are aware, more than two fifths feel the extra expense of auto-enrolment will affect hiring new staff.
Are you on top of auto-enrolment?
Our experts at Beavis Morgan are well versed in all aspects of payroll management including the set up and administration of auto-enrolment. If you would like to know more, please contact Matthew Burge or your usual Beavis Morgan partner.
Read more: Auto-enrolment – The key questions asked and answered