Businesses ill-prepared for auto-enrolment

20160315 - Get Set for Growth event at EngineShed in Bristol. Image credit to: - Twitter: @JonCraig_Photos

20160315 – Get Set for Growth event at EngineShed in Bristol. Image credit to: – Twitter: @JonCraig_Photos

More than a fifth of employers across the West of England still have no plans in place for the Auto Enrolment of employees in workplace pension schemes.

And they should start preparations immediately or risk fines if they fail to provide a scheme for their employees.

That was message from The Pensions Regulator in a keynote business event organised by GetSet for Growth – West of England, an organisation funded by the Government’s Regional Growth Fund.

The training session was attended by fifty businesses across manufacturing, professional services and the voluntary sector.

Phil Stott, Project Director for GetSet for Growth – West of England, said, “Without doubt, auto enrolment is the number one issue facing small to medium sized businesses because if they employ at least one person, then they must comply with the new workplace pension rules.

“That’s why we responded by bringing in one of the experts at The Pensions Regulator so that SMEs could learn more about the challenges and how to tackle them. We could have filled the room ten times over such was the demand.”

By 2018, all employers in the country will need to have put eligible staff into a workplace pension scheme.

Bryan McDaniel, Industry Liaison Manager from The Pensions Regulator, was the speaker at the GetSet for Growth event.

He said, “Hundreds of thousands more small and micro employers need to act in the coming two years.

“Our message is don’t ignore the workplace pension. Employers should look out for a letter from us and visit our website to find out what to do. There’s also lots of clear information written with small employers in mind.”