Columnist

Auto Enrolment fines - what you need to know

No doubt by now as an employer you are aware of Auto Enrolment, or maybe you’ve noticed the Workplace Pensions TV advert? It’s all to do with the same thing…

Auto Enrolment is a government initiative that came in with the Pensions Act of 2008, but wasn’t enforced until 2012. With large businesses (250+ employees) having already staged, 2016 is a year bringing about big changes for the SME sector with over 150,000 employers yet to stage. With it taking up to 12 months prior to your company’s staging date to ensure your business and your staff are ready for process of Auto Enrolment, it’s important you don’t hang about.

The Pensions Regulator can serve penalty notices to any employer that persistently misses deadlines and is continually non-compliant, and there are many different fines that can be served, from £400 up to a whopping £50,000!

The Pensions Regulator can also take civil action through court if penalty notices aren’t paid. It is therefore imperative as an employer, no matter the size of your business that you fully comply with the Auto Enrolment process.

If you need help or advice surrounding Auto Enrolment, please do not hesitate to contact us here at SGW Payroll. We can manage everything for you with our full service package, from setting up your online account with your Pension Provider to completing your Declaration of Compliance. We can take the stress off your plate so that you can concentrate on what truly matters to you, your business!

For more information email us: enquiries@sgwpayroll.com or call us on: 01270 500 599.

Read more about Auto Enrolment fines here.

This was posted in Bdaily's Members' News section by Helen Jackson .