The Pension regulator has issued recent guidance including an update on penalties issued in their compliance and enforcement bulletin which shows that the number Auto Enrolment penalty notices (AEPN) issued has risen sharply.
Employers with 1-4 staff who don’t comply with the EPN before the deadline set down in it will be fined £50 per day, while those who employ 5-49 staff will see their penalty build up by £500 a day. Although more than 95% of employers are meeting their automatic enrolment duties (AE) on time, the regulator is taking a tough stance with those who fail to give their staff the pension they’re due.
It is important therefore that you know what you need to do, and when, to avoid a fine.
Football club fined £22,000
Swindon Town Football Company was fined thousands of pounds after it repeatedly failed to comply with its AE duties. The regulator’s latest s89 regulatory intervention report details how the club failed to put eligible staff into the scheme by the staging date, pay contributions, write to their staff or complete their declaration of compliance.
Read more about how the fines built up and how they eventually became compliant. Employers should be aware that the regulator will work with them if they’re struggling to meet their duties, but will use their powers where appropriate.
At Burgis & Bullock we have been running Free Auto Enrolment Briefings since 2013 and these are still available on a monthly basis at each of our offices. click here for details of forthcoming briefings and to book. If your Staging Date is coming up in the next 2-3 months and you still haven’t made arrangements for dealing with the compliance, or chosen a pension provider then contact us urgently or call 0845 177 5500 for immediate assistance.