Business News 26 Jan 2012

Pension auto-enrolment delayed for small firms

Small firms will be given longer to comply with the new pension auto-enrolment rules because of the tough economic climate, the Government has announced.

Publishing a revised implementation timetable, the Pensions Minister, Steve Webb, revealed that the scheme will not be fully phased in until 2018 - two years later than originally planned.

It is hoped the delay will ease the burden on small businesses during what he described as 'exceptionally tough economic times.'

Auto enrolment will commence in October 2012 and will be phased in on a staged basis, starting with larger employers. For more details go to http://tinyurl.com/7lt9rcb