At the other end of the spectrum, around a third (35%) of small firms had planned a clear 6 months or more ahead of their staging date.
*Percentages subject to rounding
Morten Nilsson, CEO of NOW: Pensions said: “There are an estimated 700,000 new businesses to stage until the end of auto enrolment in April 2018. It’s clear from our figures that an increasing number of firms are burying their heads in the sand when it comes to their auto enrolment duties.
“This can be costly, as The Pensions Regulator (TPR) has begun to issue Fixed Penalty Notices to employers who miss their staging date deadline, which left ignored, can escalate into a County Court Judgement (CCJ) and could negatively impact the company’s credit file and their ability to secure funding in the future.
“Our message to these employers is to plan well ahead, ideally up to 6 months before their staging date, as this will ensure enough time is given to comply with their auto enrolment duties as set out by TPR. Auto enrolment is complicated so the longer firms allow themselves to tackle it, the more confident and comfortable they’ll feel.”
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