Employers Should Proactively Avoid Pensions Chaos

Posted by siteadmin on Friday 1st of July 2016.

Employers Should Proactively Avoid Pensions Chaos
Tens of thousands of employers are trying to set up auto-enrolment pension schemes every month. Some are starting to face the consequences of leaving it until the last minute – it’s a much more time-consuming job than they thought it would be.

Staging volumes by quarter

Employer size

Quarter (financial year)

Forecast volumes

Medium employers, 50-249 people

Q1 2014/15

15,900

Q2 2014/15

11,500

Q3 2014/15

1,200

Q4 2014/15

3,400

Small and micro employers, fewer than 50 people

Q1 2015/16

17,700

Q2 2015/16

9,700

Q3 2015/16

16,100

Q4 2015/16

110,000

Q1 2016/17

101,000

Q2 2016/17

133,000

Q3 2016/17

168,000

Q4 2016/17

215,000

New employers

Q1 2017/18

178,000

Q2 2017/18

137,000

Q3 2017/18

131,000

Q4 2017/18

87,000

 

Total

1,334,900

Rounding: Less than 50k rounded to nearest hundred. Greater than 50k rounded to nearest thousand.

If you’re an employer or an individual, you’re not sure what to do about your pension, and you need some advice, contact us for a free initial consultation with an expert.

The value of your pension can fall as well as rise, and you may not get back the original amount invested.

Contact us

Archive