Auto-enrolment 'will cost SMEs over £2,500'

It estimates the administrative costs to SMEs to set up these schemes from 2012 will amount to £2,550 per firm. The DWP had said small firms, with an average of four employees earning roughly £25,000 per year, will only pay £46 per year per person in administration. "It is vital that everyone is able to save for their future but the automatic enrolment scheme is going to cost the smallest businesses dear," Mike Cherry, FSB policy chairman says. "The true administrative costs are unknown and could be extortionate." Disappointed the government did not exempt SMEs from auto-enrol...