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Small business warning over pension changes

Business, News | | Published: 17:00, Thursday February 26th, 2015.

Small businesses across Wales will get a letter from The Pensions Regulator urging them to prepare for new pension duties.

The regulator is writing to every small employer in Wales to tell them the date automatic enrolment into pension schemes comes into effect.

All employers have a staging date that is specific to them. The law applies to all employers including those with one worker.

The mail out will also ask small business owners to supply email contact details to the regulator so it can provide them with regular reminders and updates as their individual staging date approaches.

The Pension Regulator’s executive director of automatic enrolment, Charles Counsell said: “The letter now being sent nationwide is to ensure all small businesses know they will need to comply with the law and enrol their staff into a pension scheme.

“Research shows that the majority of employers think that automatic enrolment is a good idea so we know the majority will want to comply.”

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