FOR IMMEDIATE RELEASE
Auto-enrolment challenge felt by smaller firms, says FSB
Commenting on the Public Accounts Committee report today, following its inquiry into automatic enrolment to workplace pensions, Mike Cherry, Policy Director at the Federation of Small Businesses, said:
“The Committee is right to highlight the challenge auto-enrolment poses for smaller businesses. These firms do not have HR departments or in-house pensions experts and many will struggle to get to grips with the legislation. Our latest research shows that while smaller firms generally believe auto-enrolment will be good for their staff, many are still unclear what they need to do in order to comply.
“As the Committee suggests, the real test of auto-enrolment begins now with hundreds of thousands of small businesses set to start enrolling their staff into a pension scheme over the next two years. FSB is calling on Government to monitor the roll out of auto-enrolment closely and take steps to lessen the burden on smaller businesses where possible. Meanwhile, small employers must face the fact that auto-enrolment is coming and the quicker they get to grips with it, the better off they will be.”
Area Administrator - North & Midlands
The Federation of Small Businesses is the UK's largest campaigning pressure group promoting and protecting the interests of the self-employed and owners of small firms. Formed in 1974, it now has around 200,000 members across 33 regions and 188 branches.
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