Auto-enrolment penalties sky-rocket
06 Sep, 2017
Automatic enrolment for workplace pensions was instigated to encourage employees to start making provision for their retirement with employers also contributing to make a larger pension pot.
The timetable for employers to begin enrolling their staff started with the UK’s largest businesses in 2012, followed by medium, and then small and micro companies. By the end of March this year over 7 million workers had been automatically enrolled into
a workplace pension, it is expected that all employers will be part of the scheme by the end of February next year.