Small firms split over auto-enrolment

According to the ACA 2010 Smaller Firms' Pensions Survey, only one in five small firms has started preparations for auto-enrolment, which is due to include SMEs in 2014. Almost a third of small firms plan to level-down their contributions in order to offset the additional cost of new members joining their schemes. A fifth say they will close their existing scheme and enroll all employees into NEST. More than a third of firms expect employees will opt out of the new pension scheme, citing cost, disillusionment with pensions and a preference to spend as the main  reasons. "The succes...