The Pensions Regulator has published a report into employer awareness and understanding of the new auto-enrolment regulations.
The report shows that awareness of the existence of the regulations amongst small employers is high, at 87% of small business, and 73% of micro businesses (fewer than 5 employees).
However, in terms of understanding, these employers rank poorly. Only 65% of small employers and 56% of micro employers showed full understanding of their responsibilities. This may largely be down to a small percentage understanding that they need to submit a declaration of compliance to the Regulator.