With all businesses now reaching their auto enrolment staging date The Pension Regulator is using its powers to establish employers have fulfilled their Auto Enrolment duties.
The watchdog issued 11,156 fixed penalty notices between January and March 2018 – up from 7,435 in the previous quarter which shows how serious they are in enforcing everyones compliance.
A fixed penalty notice of £400 is issued to an employer for failure to comply with a statutory notice or some clear-cut employer responsibilities to perform.
The Pension Regulator also issued 2,700 escalating penalty notices – which vary between £50 and £10,000 per DAY depending on the size of the organization. These are issued to the employer if the company still hasn’t complied.
It is vital that employers understand that The Pension Regulator is willing to take action against those who neglect to pay the pension contributions their staff are entitled to, and they are making it obvious that they are fully prepared to use their powers to get employers to be compliant.
If you are one of the thousands of companies that had been predicted not to have implemented your Auto Enrolment scheme then don’t worry, we can get you compliant.
We can suggest a range of schemes that are perfect for small businesses and I think you’d be pleasantly surprised at how little the employer pension contribution will be.
If you would like to see how little a month it would be for us to take care of your payroll and auto enrolment responsibilities, then please feel free to download our price guide from payroll services page.