What is Pension Auto-enrolment?
Automatic enrolment (or Auto-enrolment) is a system where all employees will be automatically enrolled into a workplace pension scheme. It is law for all employers to operate a pension scheme for qualifying employees, with employee and employer contributions.
Small businesses will be faced with increased costs from operating an auto-enrollment scheme, either from processing time to additional pension contributions.
There are ways to minimise these costs and it is important to obtain professional advice to review your specific requirements.