UK - Some 94% of organisations have failed to discuss the issue of personal accounts at a governance, trustee or board meeting, Aon Consulting research reveals.
The consultant said companies must start planning now in order to tackle "potentially the largest administrative task in corporate history".
Principal Helen Dowsey said the enactment of the Pensions Bill will be the catalyst for businesses to accelerate their preparation for personal accounts.
She said urged employers to lobby through advisers, the Association of British Insurers or the Department for Work and Pensions directly, to have provision for automatic enrolment on contract-based arrangements brought forward.
"As an immediate alternative, employers can change the wording on new contracts of employment to enroll new employees into a contract-based arrangement now, but this does not answer the question of what to do with existing employees who have chosen not to join," she said.
Dowsey said employers and trustees should raise personal accounts at board meeting so that finance directors are alerted to the potential costs needed in additional contributions and administration.
"Businesses may not be able to make many decisions now but it is definitely worth getting the ball rolling as critical decisions will need to be made in the near future."
The registration deadline for the Workplace Savings & Benefits Awards 2019 is today.
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The Pensions Regulator (TPR) has granted Now Pensions a six-week extension for its master trust authorisation application after the 31 March deadline, PP can reveal.