If you are the owner, director or senior manager in a business by now you should know all about Auto Enrolment. You should have received a letter from The Pensions Regulator telling you about your new responsibilities because the law on workplace pensions has changed. This applies to all businesses in the United Kingdom and even if you already provide a pension scheme you still need to take action on Auto Enrolment.
You may think or assume that someone in your organisation is dealing with this. But are you sure? Do you know what your staging date is? This is the date your duties on Auto Enrolment start and when the law comes into effect for you.
Auto Enrolment may take a while for a business to fully implement, so it is important not to leave it until the last minute. We are encouraging all business clients to get in touch with us, even if it is to put their mind at rest that this is being dealt with properly by someone in their organisation. We recommend you contact your financial adviser straightaway.
The value of pensions and the income they produce can fall as well as rise. You may get back less than you invested.