The three-year countdown to the introduction of personal accounts has been marked by shocking research that shows just 6% of employers understand what they are.

The accounts - which will require companies to auto-enrol their employees into a pension scheme - are due to start in October 2012, with heavy fines for firms that fail to comply. But the YouGov survey for JLT Benefit Solutions also found 38% of businesses had no idea of how to introduce them, with only 4% being positive about them.

JLT's personal accounts consultant, Andy Savage, said: "Employers, particularly smaller ones, are still very much in the dark. They will have to get up to speed."
 
The intention is that Personal Accounts will operate on an e-commerce basis but the survey also shows only 12% of companies run their pension schemes on a fully electronic or online basis.