Department Of Work And Pensions

November 28, 2011 by staff 

Department Of Work And Pensions, The Department for Work and Pensions has confirmed that small firms are to be given another year to prepare for auto-enrolment pensions.

Companies with 50 or fewer employees have been told that they will now have until May 2015 until staff are automatically enrolled onto a pension.

Under the previous timetable, small firms had been due to begin auto-enrolment in April 2014, and it is thought that the move will affect around four million workers.

It means that no small firms will have their staff enrolled on new schemes during this Parliament.

“We recognise that small businesses are operating in tough economic times so we are softening the timetable for implementation to give them some additional breathing space,” said Pensions Minister Steve Webb.

“This is a sensible step that ensures long term pension issues are addressed while meeting the short and medium term needs of small business.

“We are committed to ensuring the employees of these small businesses get the chance to save and that is why no one will miss out.”

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