Well – there’s a huge amount happening locally, as always – but I’m reminded of the importance of looking outside of local, to the bigger picture.
It’s always useful to be aware of how our sector is faring more generally, of the issues that are affecting us or are likely to affect us in the near future, and of course it’s very important to ensure that we gather facts that will help us make the case for funding our activities.
Cumbria CVS and Right Balance Accounting are helping their clients navigate the Auto Enrolment (AE) minefield. Here’s an update.
At the end of last year more than 5 million people were automatically enrolled into a pension scheme as a direct result of Auto Enrolment.
Here are seven myths about Auto Enrolment:
- It is a low priority for organisations
- It is merely a compliance exercise
- Three to six months is more than sufficient to plan and implement Auto Enrolment
- It requires only minor tweaks to systems and processes
- Organisations with existing pension provision will not need to make any changes
- You need to be a pensions expert to implement it
- Most employees will opt out of Auto Enrolment
Time management is the key to AE success.