Some employers 'underestimating auto-enrolment preparation times'

Some of the country's employers may not be allocating enough time to their preparations for auto-enrolment pension reforms, it has been suggested.

Hymans Robertson figures have shown that 68% of the HR and finance directors it queried feel that a period of less than 12 months will be needed to make preparations.

A window closer to 18 months might be required in reality, the firm pointed out.

The company's Head of DC, Lee Hollingworth, noted that problems could arise because of this situation.

He stated: "The fact that the vast majority of decision makers at the UK's largest employers grossly underestimate how long it will take to get ready implies they plan to leave it to the last minute."

Greater awareness about auto-enrolment deadlines will need to be raised by the Pensions Regulator and the government's own Department for Work and Pensions, Mr Hollingworth added.

An auto-enrolment checklist was recently released by the Pensions Regulator, which was designed for pension scheme trustees.

Posted by David Shuker.