Growing numbers of small UK businesses are requesting auto enrolment support from the National Employment Savings Trust (NEST) new figures have shown.
In preparation for the final round of staging dates, where nearly 1.8m small and micro businesses are set to implement auto enrolment within the next two years, the government-backed pension trust has seen a spike in numbers of firms signing up to their scheme.
According to NEST which is currently working with 100,000 registered firms, 850 small businesses including florists, hairdressers and shops signed up to the NEST scheme in one single day.
The news has been welcomed by Pensions Minister Baroness Ros Altmann who described NEST as 'key' to the continuing success of auto enrolment, particularly now the policy extends to small and micro employers.
Helen Dean, CEO at NEST said: "The growth in employers signing up with NEST is astounding, with many getting to grips with their duties well ahead of their staging date."
Paul Bloomfield, Business Development Director at Aon Employee Benefits added: "This demonstrates an increasing awareness of the auto enrolment legislation and its requirement for businesses of all sizes to enrol their employees into a workplace pension scheme. It is likely to have a greater impact on smaller and micro businesses and so early planning is essential."
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