An increasing number of employers are unaware of their workplace pensions responsibilities, according to a poll by the Pensions Regulator.
Employers that have already staged have five ongoing duties when it comes to complying with auto-enrolment. These include keeping records of all auto-enrolment activities, and monitoring the ages and earnings of new and existing staff every time they are paid. Other duties involve enrolling and informing staff when they become eligible for the scheme, managing requests to join or leave the scheme, and contributing towards employees’ workplace pensions.
The Regulator assessed employers’ knowledge of these five duties and found awareness levels had slumped among microbusinesses and medium-sized firms. While overall awareness levels remained high since summer 2018, figures of 82% of micro employers and 94% of medium-sized employers show a decline from 88% and 96% respectively.
Steve Webb, director of policy at Royal London, said: “The Government must sustain publicity around automatic enrolment, especially targeted at employers, if the programme is to continue to be a success.”