Auto-Enrolment Penalties
The Facts
Auto-Enrolment Penalties are on the rise! The Pensions Regulator (TPR) published their statistics for the 1st quarter of 2016 and I have to say WOW! 806 fixed penalties have been issued in the 1st 3 months of 2016, compared with 1,250 issued in the whole of 2015.
So do you know your obligations or do you even know where to start?
If not read our ‘Basic Auto-Enrolment Checklist’
Tips
You have 5 months from your auto-enrolment start date (known as the staging date) in which to send a “declaration of compliance” to TPR confirming that you’ve met all your auto-enrolment obligations. If you don’t, you’ll be sent a compliance notice. Even if you receive one there’s time to rescue the situation and avoid a penalty.