Partner Article

Employers auto-enroling need to review their offerings

The second stage of auto-enrolment with medium sized employers bringing their pension offerings in to place may not have been as successful as it might seem.

Glynn Jones, divisional director, at LEBC Group said: “Employers have not always found it easy to comply with the legislation and, in our view, it is likely that many employers who have already staged, have possibly used systems that were not comprehensive or they have used “sticking plaster” to cover the gaps.”

Jones’ concern is if the Regulator were to visit them; would their compliance be fit for purpose and could they demonstrate proper record keeping?

While larger companies, the first to stage, approach the three year anniversary when they must review their pension arrangements, there is some onus on those medium sized companies that have just staged to take an early look or seek advice on what they have in place and that it meets requirements.

This was posted in Bdaily's Members' News section by LEBC Group Ltd .