The latest bulletin from The Pensions Regulator (TPR) proves again that ignoring your auto-enrolment obligations is not an option, says Clifton Wealth’s Peter Harvey.
More than 750 employers were ordered to pay missing pension contributions between July and September this year.
The latest crackdown saw an increase in the number of Unpaid Contributions Notices issued, up from the 653 in the previous quarter.
Auto-enrolment expert Peter highlighted that simply signing up staff to a scheme was not enough.
“The TPR has, once again, demonstrated that employers must show their commitment to the auto-enrolment process. This means an on-going commitment to pay pension contributions every month and on time,” Peter said.
“In 2018 minimum employer contributions will rise to 2% and those from employees to 3%. It pays to act now if you are struggling with your auto-enrolment obligations.
“The TPR will get tough with employers who fail to come up to scratch.”
Peter was speaking as start-up businesses were reminded that as soon as a person is taken on there is a legal duty to start the auto-enrolment process.
If a new member of staff is eligible for a workplace pension, following an assessment, they need to be included in a pension scheme.
Peter said: “Clifton Wealth has a range of services which employers can take advantage of, including auto-enrolment and staff reward packages.
“I am happy to meet with employers to discuss their duties whether they are starting up or an established business looking ahead to the next stage of the auto-enrolment process and how to offer benefits to staff.”
On the fifth anniversary of the launch of automatic-enrolment, more than 800,000 employers have met their auto-enrolment duties with over 8.7 million workers now in workplace pension schemes.Tweet