According to a report by the FSB, 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 are 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 have been issued to employers that failed to comply by their staging date
Even if you don’t think it applies to you there may be things you have to do to avoid a fine. Setting up a workplace pension is not as frightening as it sounds, and we can help you comply. We have already set up many schemes for our clients.