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...
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