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THE AUTO ENROLMENT EXPERTS t

Insights

breaking bAEd

22 February 2017

Ok, so “defying authority” has many definitions and we are of course not suggesting that people are dusting down their chemistry sets. But did you know, according to Aviva, 1 in 7 firms are breaking the AE rules?

I bet that’s higher that most of you would thought was going on, and the only ones who are paying the price are the businesses themselves.

We all know business are failing to automatically enroll their staff in a workplace pension scheme ahead of their staging deadline and as these staging dates are missed, more are more firms are starting to play catch up.

In fact, 40% of those who have already enrolled did so at the “last minute”. Such a lack of preparation is stressful and to be honest totally unnecessary.

No one is quite sure why companies are leaving it so late, there has been plenty of PR (remember Workie?) and most people are aware of the implications, which could be pretty serious, but maybe psychologically it’s just “another piece of red tape”.

AE solutions, just like our own fully managed AE Service, OneStop, could take care of all AE requirements and save firms the worry as their staging dates loom or indeed pass them by.

It’s like the old Chinese proverb of the man who put-off writing his will for years. One day, after an eye opening conversation with a friend, he felt he should finally do something about it. On the way to the lawyers, whilst texting, he was hit at speed by a pigeon who had lost its bearings.

Sure, it’s not very cheery, but come on, what’s stopping you? Just get on with it.