Employers are being too optimistic about the time it takes to prepare for auto-enrolment, with nearly one-third of firms hoping to prepare in less than three months, research shows.
A study published today by The Pensions Regulator (TPR) and Department for Work and Pensions (DWP) shows 28% of large private sector employers think auto-enrolment preparations will take less than 12 weeks. A fifth of large public sector employers suggest it will take less than a fortnight. The findings are at odds with the regulator's estimates, which suggest it takes large businesses around 18 months to prepare for auto-enrolment duties. TPR employer compliance executive director Charles Counsell said: "Based on what we have seen so far, we estimate that it will take the average ...
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