Accountants need to support small business to roll out auto enrolment

Deadline dates for auto enrolment (AE) pensions for small employers is creating increased demand for accountants to act as intermediaries, according to research by AE provider NEST

 

Around 60% of small and micro employers think the flexibility to outsource auto enrolment set-up and management to a third party is important when deciding on a pension provider.

Small and micro employers are also looking for clear communications, cited as important by 79%, along with a straightforward online process to set-up and manage the scheme, which 77% view as important. 

Paul Budgen, head of business development at NEST, said: ‘Auto enrolment is fast approaching for thousands of small and micro employers and we know that intermediaries will have a vital role to play in ensuring its success.

‘They can help to bridge the gap between employers and pension providers, with services like NEST Connect helping intermediaries feel confident that they can cater to clients who want to outsource. So if an employer wanted an intermediary to take over the auto enrolment work, they can do easily. 

‘More and more intermediaries are offering an auto enrolment service. As well as scheme flexibility, high on the pension scheme wish list for small and micro employers is clear communications and a straightforward online process.’

The online survey of 500 small business decision makers was conducted online by YouGov. NEST is the National Employment Savings Trust, a government body set up to operate auto enrolment pensions.

Sign up to our newsletter

If you would like to receive regular news alerts about breaking news and developments in tax, accounting and audit, sign up to receive our free newsletter

Pat Sweet | Reporter, Accountancy Daily [2010-2021]

Pat Sweet was the former online reporter at Accountancy Daily and contributor to the monthly Accountancy magazine, pub...

View profile and articles

0
Be the first to vote

Rate this article

Related Articles
Subscribe