Don’t forget auto-enrolment

Peach Report first warned of the changes in work-based pension schemes ahead of the reforms last April, which are being rolled out over the next five years. Now Meridian Business Support has used a summit on the future of pensions to caution businesses against ignoring the changes, warning that they are of particular concern to industries with large and fairly transient workforces, like pubs and restaurants.

Fiona McKay, managing director at employment law consultancy Seminars and Solutions said businesses needed to prepare for a switch up to nine months before the so-called ‘staging date’ that marks their move to auto-enrolment. Meridian chief executive Mark Mitchell said: “What this summit has highlighted is that no one person or authority has all of the answers. All concerned parties, clients, pensions providers, recruitment agencies and software system companies must get around a table together to discuss a strategy, and they should do this as early as possible.”

Meridian plans to share best practice from its own switch to auto-enrolment with clients.

See also: Time to think pensions.