As adviser’s for workplace pensions, in particular, helping businesses stage since 2014, we can confirm that many firms that have their heads in the sand.

Most clients, if not all of them, have underestimated the complexity of the legislation. This is a risk looming large for accountants, creating an Auto enrolment cliff edge.

With more of us living longer, the government is rethinking the state pension system to reduce the ever-growing burden on the treasury.

There are several major changes coming. The state pension will get a major overhaul in April, with the introduction of a new 'flat rate' payment to replace the unwieldy two-tier system.

Over the past few years, work has changed. The idea of working 9 to 5 in one place for decades has little appeal for modern workers. Rapidly changing technology and a competitive economy has already made the idea of a job for life obsolete. Now it is the very idea of a job itself that is under threat.

Britain is a nation of shop owners. This statement is a testament to the fact that the backbone of the British economy is small and medium sized businesses.

It is these businesses which have been the driver of the economic recovery. With the advent of the end of the tax year, now is the time to take stock and plan for a new tax year.

Many business owners with small numbers of employees may be leaving themselves, and their staff open to losing their savings. This is due to poor choices being made on the selection of Auto enrolment pension schemes.

The schemes causing concern with The Pensions Regulator are known as "Master Trust" Scheme.

Pensions law for employers is changing. It is very important, as an employer, that you understand what you need to do and by when to avoid a fine.
The new pension regulations default scheme
Under the Pensions Act 2008, all employers regardless of how many people they employ, must auto-enrol their employees on a workplace pension scheme.