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Wednesday, 18 February 2015

It’s happening - Employer fines for Auto-Enrolment non-compliance!

The Pensions Regulator (TPR) issued 166 penalty notices to firms breaking Auto-Enrolment (A-E) regulations in the final quarter of 2014, an increase from just three fines in the previous quarter.


TPR’s latest quarterly update on its investigations into A-E reveals it served 166 firms with £400 fixed penalties for failing to comply with an unpaid contributions notice or a compliance notice in the last three mo...nths of the year.


The fines totalled £66,400 and compare to three penalties in the third quarter of 2014 – the first TPR had issued for A-E non-compliance.

There was also a surge in the number of compliance notices issued, with TPR handing out 1,139 in the final quarter of the year, compared to 163 in the third quarter.


Approximately 30,000 medium-sized employers who had staging dates between April and July reached their deadline to complete their declaration of compliance by the start of December 2014.


TPR director of auto-enrolment Charles Counsell says: “My message to all employers is that failing to declare within five months of your staging date means you risk being fined, which is why we recommend you start your Auto-Enrolment planning and preparation 12 months before staging.
It appears some medium employers waited for a prompt from the regulator before completing their auto-enrolment duties.”


TPR says that with A-E being rolled out to large numbers of small businesses in the coming months, it expects to see a further increase in the number of firms which leave it too late or do not comply with the rules.


Don’t get caught out! We can help. Please phone Bernard Macken on 0113 202 9529 or e-mail bfm@pipllp.co.uk Also, please visit our website at www.pipllp.co.uk . ‪#‎BeyondBetter

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