Auto-enrolment complacency will cost dear
We should all be aware by now that, despite it seeming to take a long time to actually arrive, auto-enrolment is here and appears to be staying. One would think, therefore, that given its long lead in, everyone was ready. In an ideal world perhaps this would be true. In reality, it appears not to be the case, as the Pensions Regulator has issued its first compliance notice.
The Regulator published its response to a freedom of information request on 17 July 2012 and answered questions regarding its auto-enrolment compliance records. The response indicated that no penalties had yet been issued and it revealed that 38 warning letters and one compliance notice had been issued. Warning letters focus on the Regulator’s goals of engaging and educating employers, whereas a compliance notice can compel an employer to take specific action to remedy any non-compliance…
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