Latest small and medium-sized enterprise statistics reveal the scale of the auto-enrolment exercise for pension personal accountsThursday, October 21st, 2010
On 13 October, the Department for Business, Innovation and Skills (BIS) published its annual statistical review of small and medium-sized enterprise (SME) statistics for 2009.
The 1,220,070 private sector employers with one or more employees (excluding companies with only one employee/director) can be analysed as follows:
|Employer Size||Number of Employers||Number of Employees|
|Micro: 1 to 9 employees||1,019,605||83.6||3,813,000||20.2|
|Small: 10 to 49 employees||167,670||13.7||3,251,000||17.2|
|Medium-sized: 50 to 249 employees||26,910||2.2||2,633,000||14.0|
|Large: 250 or more employees||5,885||0.5||9,179,000||48.6|
It is useful to consider these figures alongside the statutory schedule for employers to meet their auto-enrolment obligations for pension personal accounts in the four-year period, starting in October 2012. Only employers with defined contribution pension schemes are involved in the four-year implementation programme; those with defined benefits schemes are not required to start auto-enrolment until October 2016.