Big Auto Enrolment Fines
Big Auto Enrolment fines become a reality as Pensions Regulator flexes its muscles
Have you been putting off Auto Enrolment? Is your staging date looming – or even passed? Have you yet to find a pension scheme for your employees?
If so, you need to download and read our easy to understand guide NOW.
If you don’t sort this out, The Pensions Regular is likely to get on your case and slap you with a fine. Failure to comply with Auto Enrolment by your staging date can lead to escalating daily fines of between £50 and £10,000 per day. 576 of these penalties were imposed on businesses between 1st July and 30th September this year alone.
The regulator also handed businesses 3,728 fixed-penalty notices during the same period, usually to firms who hadn’t completed a Declaration of Compliance.
Some of the fines that have been dished out have been eye watering. Back in April, Swindon Town Football Club got hit with a fine of £22,900 after it failed to put eligible workers into a pension scheme or comply with other pension duties.
At THP we’ve been helping our own clients to successfully Auto Enrol before their staging date, and we’re very happy to help you too. So if you haven’t yet got to grips with Auto Enrolment download our free guide now and speak to us today. Our Auto Enrolment expert, Sam Rowe will guide you through the Auto Enrolment process and make sure The Pensions Regulator doesn’t start helping itself to your hard-earned profits.