A "perfect pensions storm" could be brewing for 2013 as auto-enrolment (AE) and the Retail Distribution Review (RDR) are implemented, according to Jelf Employee Benefits.
The company has put together its top three pension predictions for next year: 1 Increased auto-enrolment activity "Next year is likely to see the UK's SME community finally taking serious action to prepare and implement AE. Many SMEs enrol in 2013, or early 2014, so with only a matter of months left to prepare, employer activity will suddenly increase significantly, particularly given the potential penalties for non-compliance with AE duties. "The legislation really is very complex and challenging, even for employers who have previously engaged with company-supported pensions, so it...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes