A warning has been sent by The Pensions Regulator (TPR) to half a million small employers of their risk of being fined for not taking action on their workplace pension obligations.
The Department for Work and Pensions’ (DWP) ‘Workie’ character, who first made an appearance on our screens in October last year, returns and emphasises the importance of this matter.
TPR executive director for automatic enrolment Charles Counsell said that TPR is “concerned that a minority of smaller employers are leaving things too late and struggling to comply on time”. Counsell also reinforced that: “Employers should start planning 12 months before their duties start.”
Even if your business has no staff to put into a pension scheme, you will still have auto-enrolment duties and you must not ignore these in order to remain compliant and avoid fines.
For more information and guidance through the auto-enrolment process, take a look at our useful guide; Before, at and after your staging date.