The Pensions Regulator (TPR) has today (29 September) launched a new online suite of information and tools for start-up businesses auto-enrolment.
These companies will have, from 1 October, a legal duty to put staff straight into a workplace pension as soon as they employ them.
The regulator’s new webpage provides new businesses with the information they need about what to do and when, the regulator said.
Darren Ryder, director of automatic enrolment at TPR, said that this new measure “will continue the great strides automatic enrolment has made to reverse the downward trend in workplace saving”.
He said: “Providing a workplace pension is now the business norm and staff expect to be saving into a pension as part and parcel of their employment.
“Every employer who has successfully met their duties and done the right thing for their staff has contributed to the success of automatic enrolment.”
The new obligations for new businesses coincides with the fifth anniversary of automatic enrolment.
Since 2012, more than 8.5m more people have begun saving into a workplace pension, while nearly 800,000 employers have met their automatic enrolment duties.
However, research published in May revealed that one in four small firms (25%) have missed their deadline for auto-enrolment.
According to Mr Ryder, advisers play an important role in supporting employers, “therefore it is vital they are equipped with the information they need so they can help their clients who are setting up a new business”.
He said: “I urge advisers to visit our website where they will find important information to help their clients successfully meet their automatic enrolment duties.”
maria.espadinha@ft.com
