Stephanie Wardle
2 minutes length
Posted: 29th October 2014

First employers fined by The Pensions Regulator for not meeting duties.

 

 The latest bulletin released yesterday from The Pensions Regulator [TPR] has revealed that the first fines were issued to businesses for non-compliance to auto enrolment legislation.


Medium-sized companies who staged earlier this year in April needed to have completed their declaration of compliance by the end of August. The declaration of compliance has to be submitted to the TPR confirming they have complied with all the necessary legislation. Companies have 3 months after their staging date to complete this compulsary requirement. 

Top 3 headline findings from the latest report included:

  1. 163 Compliance Notices were issued during the period
  2. The first employers were fined a fixed penalty of £400 for not meeting their duties
  3. Research into employer awareness and calls to the regulator’s contact centres have indicated that some small employers still do not realise the law applies to them

TPR emphasised the importance for small and micro employers to check when their staging dates are to ensure their businesses are prepared to manage these changes.

The Executive director for automatic enrolment, Charles Counsell stated “As we deal with smaller employers, we will see more who, despite our message to prepare early, leave it too late or do not comply at all. This type of non-compliance is not acceptable. We expect to see the number of times we need to use our powers increase.”

With over 1 million businesses still to complete their auto enrolment preparation and reach their staging date, TPR launched a new advertisement campaign “Act now, it’s the law” aimed at those small businesses with misconceptions around the legislation.

IRIS are currently supporting over 1,600 companies who assess over 400,000 employees , helping them keep compliant when it comes to auto enrolment.

With a comprehensive auto enrolment solution fit for all size businesses, find out how the IRIS AE Suite™ can help you today.

Find out more about IRIS AE Suite™ 

Do you know your auto enrolment myths from the truth? 

Download the free guide “13 automatic enrolment myths and truths” 

Call 0344 815 5700 for a free demonstration of the IRIS AE Suite