Pension reform concerns

Approximately 2/3 of small businesses in the UK no closer to enroll their staff into pension schemes workplace is required under the new law, according to a new survey. And more than four in 10 do not think the new rules, said the report, from the Chartered Insurance Institute (CII). We also found that a quarter of 500 small firms were asked to consider the law but does not act on them. Six of the 10 companies requesting to know little or nothing about pension reform - which came into force for large companies than in October 2012 - with only 12% claiming to know a lot about This, and only 8% have an implementation plan in place. Such low levels of knowledge and activity may reflect the performance of pension reform now extended to 'date from June 2015 to April 2017 - is set to the smallest business in the UK. About six of the 10 companies with more than 50 employees are not currently offer their employees pension scheme work, with only one-quarter provision for staff both full and part time. And the gap between small firms (10-49 employees) and micro (1-9 employees) are remarkable, with 65% of the final scheme of the offer altogether. Under the pension reform, all employers are required to auto-enroll staff into a pension scheme, to make contributions on their behalf, to register with the Pensions Regulator and tells employees how the changes will affect them.