Companies need to allow at least 18 months of preparation to deal with the complexities of automatic enrolment, according to NEST (National Employment Savings Trust) chief executive Tim Jones.
Speaking at the NAPF (National Association of Pension Funds) conference in Liverpool last week, Jones said some major employers found it had taken them two years to respond to their duties.
“Pensions are complicated and employers are struggling... we need to get people on board as soon as possible” Jones said. “In summer 2014, 25,000 employers are due to start auto enrolling employees via 30,000 PAYE schemes.”
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- Employee engagement
- The cost of auto-enrolment
- Quality of schemes