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Small businesses in serviced offices in Edinburgh may consider preparing early18th November 2010

Small firms in serviced offices in Edinburgh could start considering how changes regarding automatic enrolment into company pension schemes will affect them now, following comments from one expert.

John De Groot, former Enterprise Agency chief executive West Sussex, said the system will only have an impact on businesses from 2014, giving enterprises plenty of time to understand the various implications of the proposals.

"As with many previous schemes, it will be the small businesses that don't prepare that will end up spending more time and resources trying to catch up," he noted.

Mr De Groot added the Department of Work and Pensions has already made a lot of information available about the plans, meaning employers can advise their workers themselves by circulating information.

According to the Federation of Small Businesses, automatic enrolment into pension schemes could cost firms £2,550, in addition to extortionate administrative costs.

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