Small family businesses and people with a single employee such as a nanny will now need to start paying into a pension for their workers in the next phase of a move to boost retirement savings. This is an important point to remember if considering maintenance payments upon divorce.
Around 14,000 small and micro businesses will be reaching their staging dates in June, with tens of thousands more coming on board over the next two years, according to the Pensions Regulator. Smaller firms such as hairdressers and grocers will be included as the scheme rolls out. In some cases, people may be employing just one person such as a nanny or a carer. Employers persistently ignoring their auto-enrolment duties could ultimately face fines.