THE 'BAck to business' guide



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What is it?

In an effort to boost pensions savings, as part of the Pensions Act 2008, the Government introduced new rules that mean that if you employ at least one person, you must ensure that you put workers who meet age and earning criteria into a workplace pension scheme. This means that eligible employees will have to opt-out of occupational pensions, rather than opting-in.

Under the rules, it’s estimated that 1.8 million employers will enrol more than 10 million employees by 2018.

PAE Guide
PAE Guide

How will it impact your business?

Auto-enrolment is being introduced in stages – which began in January 2012 – and these stages are based on the number of employees a business has. 

According to The Pensions Regulator, up to 500,000 SMEs are set to reach their auto-enrolment pensions staging date in 2016, but there has already been a significant rise in fixed penalty notices for businesses that fail to meet their duties by the relevant staging dates. 

As an employer, you will need to make sure that you are ready for the changes, which include ensuring you have considered some of the following.

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The following considerations will help you adjust to the new rules and prepare your business for future changes.

Number 1


Your staging date is dependent on your business size and PAYE number and this is the date by which you will need to have a pension scheme in place and start to enrol employees. If you don’t pay employees through a PAYE scheme then your staging date will be 1 April 2017. 
You can find out your staging date by visiting:

Number 2


From your staging date onwards you will legally be obliged to set up and register a workplace pension scheme, automatically enrol eligible workers, mange the auto-enrolment process – including joining and opting-out– and keep accurate records of how you have fulfilled your duties as an employer. 

Number 3


There is support from financial advisers who specialise in auto-enrolment, so if you are unsure about what you need to do or how to manage the process, seek advice to ensure that you’re fully up-to-speed and compliant in time for your staging date. 


Bibby Financial Services is the UK’s largest Independent Invoice finance specialist and a trusted provider of funding solutions to over 7,000 businesses.

Through our network of 19 local offices, we handle annual client turnover of £5 billion and since 2010, we have advanced more than £26bn to small and medium sized businesses throughout the country. 

Formed in 1982, we are a member of the Asset Based Finance Association (ABFA) and support businesses in over 300 industry sectors.

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Globally, we have operations in 44 locations, in 14 countries across Europe, North America and Asia, supporting more than 9,500 business customers worldwide.

In 2011, 2012, 2014, 2015 and 2016 the company was awarded a place in the Sunday Times 100 Best Companies to Work For, ranking 31st in the most recent poll.

We are supported by our parent company, the 208 year-old Bibby Line Group, a business-to-business services group involved in logistics, shipping and ship management, floating accommodation, hydrographic survey and geophysical services, offshore project management, retail, woodland burials and construction equipment hire. 

The company was founded by Liverpool entrepreneur John Bibby in 1807 and has its head office in Duke Street, Liverpool.


We help businesses unlock working capital for a range of scenarios, including cashflow funding, new equipment purchase, growth and expansion, management buy ins and buy outs, refinancing, corporate restructuring and mergers and acquisitions.

Our range of financing options includes:

  • Invoice Finance
  • Factoring
  • Lease Finance
  • Export Finance
  • Trade Finance
  • Specialist finance for the construction and recruitment sectors
  • Foreign Exchange