Thousands of small businesses in the UK are at risk of missing this week’s auto-enrolment staging date for firms with 30 to 49 employees, according to research.
A survey by payroll and HR services firm Moorepay has found that over a quarter (27.3%) of small businesses with fewer than 50 employees are still unaware or unclear about their pension provision responsibilities.
Of those aware of their forthcoming auto-enrolment requirements, over half (54.8%) are still deciding on which pension provider to select, the research found.
Alison Dodd, CEO of Moorepay, said: “There is no defence against missing your auto-enrolment staging date, whatever the size of your business. While we’ve seen awareness of responsibilities growing over the past 12 months, there is still a long way to go. It is concerning that so many firms are not fully ready when support is so easily available.”
The research also highlighted the main areas where firms felt they needed help and advice in order to comply. Of those surveyed, nearly one third (32%) want help understanding the right calculations and deductions, 30% are looking for support with reporting and 29% are struggling to identify eligible employees.