Auto Enrolment Fines Surge
Despite considerable efforts from the Government it would appear that businesses are not heeding the warnings and are delaying their transition to auto enrolment systems from any existing pension provision.
The Pensions Regulator produces a quarterly compliance report and the latest edition highlights an increase in the number of fixed penalties being issued for non-compliance with the new pension rules.
It is likely that these numbers will rise over the next few months as the deadlines (staging date) for many smaller and medium sized businesses to comply approaches.
It is clear, from this evidence that businesses are underestimating the time they need to prepare for auto enrolment. Six months is regarded as the bare minimum.
Many more businesses will come under the new pension rules this year. If this is going to have an impact on your business, it’s important to know exactly what you have to do to ensure that you don’t fall foul of the rules or miss your staging date.
As members of Norfolk Chamber we felt it remiss not to provide businesses the opportunity to improve their knowledge of this complicated process and so we have adapted our seminars to become a Chamber Session.
You can find out about the free training session here
For more details about auto enrolment click here
For an informal chat about your auto enrolment requirements please call David Perry on 01603 218388 or Dee on 01603 218027