The auto-enrolment pension scheme will cost SMEs and umbrella companies an average of £2,550, but the true cost of administering it could be horrendous, warns the FSB.
The requirement for all employees to be enrolled automatically into a pension scheme is due to be implemented in 2012, but it seems there are still some aspects of the legislation that are causing concern.
A new survey by Just Retirement has found that workers who have retired or are nearing retirement would like to receive more guidance on taxation and other issues. This can include those working through umbrella companies.