Rise in auto-enrolment fines

Rise in auto-enrolment fines

The Pensions Regulator made 192 ‘fixed penalty’ notices of £400 in the first quarter of 2015, up 120% from the previous quarter, according to Creative Auto Enrolment, a pension adviser.

Fines on employers for not complying with new workplace pension duties increased sharply in the first four months of 2015.

In April last year, thousands of medium-sized employers started enrolling workers into auto enrolment.

Recent research by Creative Auto Enrolment found that just 24% of these businesses will find time to implement auto enrolment and make it a success.

The Pensions Regulator said eight in ten smaller medium and small employers have consulted an adviser to help them comply with their duties but despite this there are “gaps in knowledge”, in particular among accountants and bookkeepers who “continue to have the lowest level of understanding of all intermediaries about automatic enrolment.”

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