Knowledge and time of the essence for AE

Knowledge and time of the essence for AE

Small businesses do not have the knowledge or time to prepare themselves and the workforce for auto-enrolment, a senior spokesman at Trust:Pensions has said.

According to Griselda Williams, head of business development for AE solutions provider Trust:Pensions, there is an “imminent obligation” on small businesses to enrol their workforce into a qualifying pension scheme.

However, she said: “Many will not have the knowledge or the time to research and understand this new responsibility and the administrative challenges it raises.”

She said that the company, together with the Pensions Regulator, was implementing a series of roadshows across the country over September, October and November, to help small employers and their advisers “get some clarity about AE to employers across the UK”.

Adviser view

Bill Longe, Midlands-based national head of employer solutions for Baker Tilly, said: “The Pensions Regulator has confirmed its new TV campaign is going to focus on small businesses and will include a revamp of the auto-enrolment website to provide more helpful support to such employers.

“While it is pleasing to see the regulator has announced a new approach is required for small employers, there is concern that many small employers may ignore their obligations. The threat of fines suggests the government has recognised it will be no easy task to get so many small employers on board.”