Smith & Williamson launches auto-enrolment tool

Smith and Williamson has launched an online auto-enrolment tool, which uses basic information about an employer’s pension scheme.

It enables the accountancy and investment management firm to assess what an employer needs to do, and by when, in order to comply with the new legislation.

Paul Maher, head of financial services at Smith and Williamson, said: “Many employers think that because they already operate a pension scheme, they will automatically meet the new requirements. But this is not the case.

“We expect that employers with between 50 and 250 staff are those who are most likely to unexpectedly fall foul of the new rules. They will have to, at least, review their scheme.

“While smaller firms do not need to have their systems set up until 2013, or possibly later, it typically takes a year or longer to get these things up and running with minimum disruption to the business.”