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Compliance with auto enrolment duties has come under the spotlight across the UK following investigations of businesses in London and Manchester and spot checks very recently in Sheffield and Birmingham.
Those who fail to comply are facing serious fines.
In the first three months of 2017, The Pensions Regulator issued 4,673 fixed penalty notices and more than 1,000 escalating penalty notices.
A total of 14,502 fixed penalty notices of £400 have now been issued.
2,517 escalating penalty notices of up to £10,000 per day to employers that failed to comply by their staging date.
Even very small employers need to be on top of things.
It can take three to four months to set up a proper scheme. But just as importantly, scheme providers themselves will only be able to take on so much new business the nearer the deadline looms. Those who leave it too late may find a provider is unable to work with them in time.
What do you need to do?
1. Find out whether you, as an employer, are subject to the new duties.
2. Find out your staging date. This is the date when these new responsibilities come into effect for your organisation, and this date will differ from organisation to organisation. Employers with fewer than 50 employees in their PAYE scheme were timetabled to be “staged” between 1 June 2015 and 1 April 2017.
3. Take action to comply.