The Pensions Regulator (TPR) is carrying out spot checks across towns and cities in the UK to make sure that employers are complying with their auto enrolment of workplace pension duties. Inspections have already been carried out in London and Manchester and, within the last two weeks, checks have taken place in Sheffield and Birmingham. Some businesses are failing to comply, and they’re facing serious fines.
- In the first three months of 2017, TPR issued 4,673 fixed penalty notices and more than 1,000 escalating penalty notices
- A total of 14,502 fixed penalty notices of £400 have now been issued
- 2,517 escalating penalty notices of up to £10,000 per day to employers that failed to comply by their staging date
If you need any help with this issue, the MIA-recommended financial consultancy firm is Jelf. – www.jelfgroup.com/ – they provide expert advice to both businesses and individuals on matters relating to insurance, healthcare, employee benefits and financial planning.
Act now and make sure your business avoids these heavy penalties