One in six (16%) businesses missed their workplace pension application deadline in Q1 2017, up from 1% in the same quarter last year, according to research from Aviva.
The provider found the number of ‘late-stagers' - those who applied to Aviva for a workplace pension after their staging date had passed - was on a steady rise, having already increased from a mere 1% in Q1 of 2016 to 14% in Q4. The additional increase in the first quarter of this year meant the number of late-stagers was sixteen times higher at the beginning of this year than last. As Aviva pointed out, 2017 is set to be the biggest year for auto-enrolment since the roll out began in 2012, with about half a million mainly small and medium sized enterprises (SMEs) due to go through th...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
