The Pensions Act 2008 set up UK Auto Enrolment and set out the penalties that can be imposed on companies by the Pensions Regulator for non compliance. The penalties can be significant; fines ranging from a flat £400, £50 a day up to £10,000 a day and even imprisonment for up to two years.
To date, the Pensions Regulator has sought to solve issues informally. As an employer you will receive lots of communications from the regulator in advance of your staging date, you have no excuse! We’re noticing a change and fines are now being issued as thousands of smaller, less prepared companies start to enrol.
The key to avoiding penalties is to:
- Be set up correctly on time;
- Remain compliant; and
- To fix issues quickly (otherwise fines can build up every day that you are non compliant).
Drummond Laurie payroll & auto enrolment service could make this process much easier for you contact us before it’s too late, the regulator are now issuing fines for non-compliance!
To find out more please contact email@example.com or call 01324 441280.