“This research is a key element of our understanding of how employers are responding to their new duties. We have tools and information on our website including a timeline planning tool and a suite of new guides to help employers with limited pensions experience to select a good quality scheme for automatic enrolment.” Go to research and analysis to read the Employers' awareness, understanding and activity relating to workplace pension reforms report in full. You can also find a report that includes the full data. Awareness Awareness of the changes in workplace pensions law remained high among all employer sizes. As in previous waves, awareness was lower among micro-employers (61%) than large employers (99%). Awareness of the details of the reforms remained low in terms of the types of people who need to be assessed for automatic enrolment, the eligibility criteria and the types of earnings that need to be taken into account. Progress Significantly more large (62%) and medium employers (52%) felt the process would take four months or longer than in autumn 2012 (49% and 43% respectively). A larger proportion of medium employers (up 11% to 84%) and micro-employers (up 12% to 30%) had started their preparations than in autumn 2012. 40% of small employers had started a plan. 41% of small employers said they would ‘leave it as late as possible before thinking about how to comply with the introduction of automatic enrolment’ consistent with 40% in autumn 2012. Confidence Most large employers (99%) were confident that they would have done everything needed by the deadline. Key findings include
Small employers, who are not due to stage until after June 2015, remain positive about meeting their deadline. 57% were ‘very confident’ and 23% ‘fairly confident’.
Three out of four micro-employers (74%) were confident they would be ready for their deadline.
CIPP comment The next automatic enrolment professional bodies working group meeting will be held on 24 September where these results will be discussed further. Karen Thomson will be representing the CIPP at this meeting and if any members have any items they would like raising, please email policy@cipp.org.uk .
SMALL FIRMS CHOOSE ADVISERS FOR AUTOMATIC ENROLMENT HELP
28 August 2013
According to recent research advisers remain the preferred source of information for small firms when choosing a company pension.
IFAonline discuss the research, carried out by polling agency Populus on behalf of the Personal Finance Society (PFS) which revealed that more than two-thirds of micro (1-9
CIPP Policy News Journal
16/04/2014, Page 385 of 519
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