For the first time, The Pensions Regulator (TPR) has published research into how UK employers are meeting their duties following the completion of their declaration of compliance.
Around 96% of employers asked said they are confident they are fully compliant with their ongoing duties towards their staff.
The research, which asked employers about their attitudes towards their ongoing duties, also shows employers found automatic enrolment easier than expected.
Most micro employers said they spend around half an hour each month meeting their duties and two thirds did not use outside help. Those who did said it cost them around £42 per month to use an accountant or auditor to help them.
TPR’s Director of Automatic Enrolment Darren Ryder commented:
“These new figures show automatic enrolment is now simply part of running a business and that most employers have found meeting their duties less complicated than they expected.
The vast majority of employers comply on time and it is encouraging that so many employers are confident they are doing the right thing for their staff.
Employers can find the information they need to meet their ongoing duties on our website so they can ensure they are carrying out their duties correctly.”
