With the deadline for every employer to have a pension in place for their staff looming closer, businesses in Sheffield are invited to attend a free Auto Enrolment seminar to address the concerns of the SME business community.
The seminar, which is taking place at DoubleTree by Hilton on Chesterfield Road South, Sheffield, on Wednesday 22 June from 8:30am – 10:00am, is being held by Auto Enrolment experts Mitchells Chartered Accountants and Business Advisers.
There are serious consequences for employers who fail to have a company pension in place by their staging date, including big fines and even imprisonment, the seminar will give businesses the information they need to make sure their business is fully ready for Auto Enrolment.
Already, research has shown that small businesses in the UK have been slapped with around £25 million of fines for missing the government’s Auto Enrolment deadline. Swindon Town FC recently repeatedly failed to comply with its pension duties which led to a £22,900 fine.
Experts from both Mitchells and The People’s Pension (the Government-recommended workplace pension scheme) will be on hand at the seminar to explain the most cost effective solutions for businesses.
Hari Mehta, Auto Enrolment expert at Chesterfield-based Mitchells Chartered Accountants and Business Advisers, said: “With the onus being on businesses to make sure they are ready for Auto Enrolment, many employers, particularly those that are small and do not have an HR function to advise them, can inadvertently miss their staging date. Failure to be compliant will result in heavy fines from the Pensions Regulator as well as possible criminal proceedings.
“Auto Enrolment is something no employer can afford to ignore. Even if your enrolment date isn’t imminent, rather than leave it too late and risk fines, get the information now to help you make informed and cost-effective decisions. It is recommended that preparations for Auto Enrolment start at least 12 months before your staging date.”
Breakfast and networking will take place and the seminar will run from 9am – 9:45am, with a Q & A session to follow.