Written By Holly McHugh, BrightPay Payroll Software: Employers continued to be confident in their future compliance with automatic enrolment, though this confidence was weaker among January 2018 stagers.
92% of early stagers admitted that they felt very confident that their organisation would be fully compliant with the new legislation (that’s more than 9 out of 10 people) . That statistic was a little higher than Autumn 2016 at 88%.
Confidence levels dropped significantly among January 2018 stagers, with 69% saying that they felt very confident in their compliance. This was even lower than the 77% seen in Autumn 2016. Results showed that among micro employers staging in January 2018, confidence levels were at 65%. While among Smalls, confidence levels were at 85%. The majority of businesses staging in January 2018 are micros, meaning it is clear that this is driving the lower confidence levels of these later stagers.
These results are from the Spring 2017 research carried out by Jigsaw Research, an independent market research agency, on behalf of The Pensions Regulator (TPR).
Written By Holly McHugh, BrightPay Payroll Software. Exhibiting at Accountex Summit North on stand 34.