Smaller employers still to auto-enrol

If they have not done so already, employers with fewer than 50 staff – including the very smallest employers – need to examine existing pension schemes, if any, to see if they meet the new minimum requirements, and decide which type of pension provision to make for employees – e.g. an existing scheme or a new super-trust (e.g. NEST) pension.

The cost of the minimum employer contribution, rising to 3% from October 2018, should be considered along with upgrading – or introducing – payroll and administration systems for notifying pension administrators of new employees and automatically re-enrolling opted-out employees every three years.