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Pension punishments set to soar

The number of employers punished for making late payments to their staff retirement schemes is likely to soar under a proposed change in the law.


The Occupational Pensions Regulatory Authority is to convert late payment of contributions from a criminal to a civil offence to increase the number of prosecutions it is able to make.


Under the change Opra will not need to go to court before taking action, but fine failing employers directly.


Opra legal adviser Jennie Kreser, said: “Making the liability civil rather than criminal will make the system more efficient.”



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