Breaches of pension auto enrolment triples
Action taken against companies who have failed to meet auto enrolment requirements, has risen by 306%, according to The Pensions Regulator. Enforcement action has increased to 8,812 incidents in the year to March 2016, up from 2,169 the year before. Since 2012, employers have been required to enrol all eligible employees automatically into a pension […]
Employee benefits cut to focus on profitability
While an increasing number of UK employers are tightening their belts after the introduction of the National Living Wage and pension auto enrolment, businesses over in the Silicon Valley are taking serious measures to improve profitability and cut excess spending. Dropbox is one several high profile companies that has recently announced that it will be […]
WHAT DOES 2016 HOLD FOR SMEs?
SMEs (Small and Medium Enterprises) face constant challenges so what does 2016 hold for them? 1 EU – are we leaving? If we do decide to leave the EU in June 2016 it will have a huge impact on all SMEs. For example, many SMEs rely on the free movement of EU workers. Whilst it’s […]
Auto-enrolment update
A recent auto-enrolment update from the Department of Work and Pensions (DWP) has predicted that by 2020, £17bn a year will have been put into workplace pension schemes as a result of auto-enrolment. It also predicted that just over 10 million workers will be saving more money than they would have done previously, even outside […]
A fifth of UK workers expect to retire after 70
New research has revealed that over a fifth of UK employees expect to retire in their seventies and also have higher stress levels. Not only that, they are also less healthy and more stressed than employees who are hoping to retire sooner. 1,895 UK employees were interviewed for the Global Benefits Attitudes Survey, conducted […]
Pension Auto-Enrolment: Avoiding the Pitfalls
The Government is aiming to head-off a future savings crisis with a pension auto-enrolment scheme for employees – and HR departments need to be aware of the potential pitfalls that this new legislation could bring. The latest development that employers need to know about when enrolling staff is new regulations banning consultancy charges. The regulations came into force […]
Employers Still Struggle with Auto-Enrolment
Nearly 8,000 SMEs have not made plans to fulfil their auto-enrolment requirements according to a new report from the Pensions Regulator (TPR). TPR stated that this figure represents 20% of the employers that were due to stage during the period from 1st April to the 30th June. During the same time frame TPR issued 119 […]
