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team of expert qualified advisers and administrators have a proven track record of success, and a depth of experience resulting
from numerous years within the Financial Services Industry.

With our independent status, offering whole of market options, Pension & Investment Partners LLP is in a position to continually

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Thursday 4 September 2014

Auto-Enrolment News



The Pensions Regulator (TPR) issued an announcement earlier this year, encouraging small and medium-sized employers to check when they are required to Auto-Enrol, after awareness and understanding research indicated that 47 per cent did not know when they needed to act.

Information released then by the Regulator under the Freedom of Information Act indicated there were 134 breaches of Auto-Enrolment duties between October 1 2012 and January 31 2014.

This resulted in 129 instances of informal action being taken, including instructions via telephone, email, in person, and warning letters. The Regulator also took formal action, which included issuing four compliance notices and one unpaid contribution notice, but at the time of the announcement, no fines had yet been issued.

Charles Counsell, executive director of Auto-Enrolment at the Regulator, said the watchdog has concentrated on creating a “pro-compliance culture”, so that employers have the information they need in order to comply with the requirements.

“We are also working with employers to rectify anything that has gone wrong,” he said. “We have only needed to use our statutory powers six times, but we are not complacent and realise that the greatest challenge remains ahead with small and micro employers.”
 
For employers concerned about this, we can help. Contact Bernard Macken on 0113 202 9529, or e-mail: bfm@pipllp.co.uk

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