GOVERNMENT plans to automatically enrol workers at small businesses into pension schemes are to go ahead three years later than originally planned.
A revised timetable published by the Department for Work and Pensions (DWP) for employers to begin enrolling their staff starts with the largest firms first, followed by medium, then small companies.
Automatic enrolment for the very largest companies will begin in October this year, while the smallest companies with fewer than 30 employees will be not be obliged to complete enrolment until 1 April 2017.
“We have done all we can to ease any burden on business the reforms will bring and employers of all sizes now know the date they need to start enrolling their staff,” said minister for pensions Steve Webb.
The National Association of Pension Funds (NAPF) welcomed the revised timetable but urged the government not to make any more delays.
“The government needs to stick to the new timetable and avoid last minute changes that will undermine the success of the reforms. There have been too many delays already,” said NAPF chief executive Joanne Segars.
Full contributions will have to be paid from 1 October 2018.
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