Fines for those who fail to comply with Pensions Auto Enrolment
The Pensions Regulator (TPR) has issued 166 Fixed Penalty Notices of £400 to employers who failed to meet their obligations in the last quarter of 2014.
The number of employers approaching the date when they must confirm that they have complied with new workplace pensions duties (known as a declaration of compliance) is now beginning to rise significantly as Auto enrolment is rolled out across all employers. In future months, TPR expects to see more employers who, despite the message to prepare early, leave it too late or do not comply at all.
Experience to date also shows that employers should begin gathering the information they need to complete their declaration of compliance well in advance of their deadline.
If you would like help or advice with auto enrolment please get in touch.