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The Pensions Regulator warns half a million small employers to avoid fines

A warning has been sent by The Pensions Regulator (TPR) to half a million small employers of their risk of being fined for not taking action on their workplace pension obligations.

The Department for Work and Pensions’ (DWP) ‘Workie’ character, who first made an appearance on our screens in October last year, returns and emphasises the importance of this matter.

TPR executive director for automatic enrolment Charles Counsell said that TPR is “concerned that a minority of smaller employers are leaving things too late and struggling to comply on time”. Counsell also reinforced that: “Employers should start planning 12 months before their duties start.”

Even if your business has no staff to put into a pension scheme, you will still have auto-enrolment duties and you must not ignore these in order to remain compliant and avoid fines.

For more information and guidance through the auto-enrolment process, take a look at our useful guide; Before, at and after your staging date.

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Guide

Guide: how to change your auto-enrolment support

As we approach the two-year milestone of auto-enrolment, employers have had the opportunity to truly assess the capabilities of their chosen support. They are also now realising that getting to the staging date was the easy part, and that support is required for almost every aspect of the day to day running of their scheme. With the three-year re-enrolment window coinciding for many with the total removal of commission and Active Member Discounts from pension-related products and services, as well as the introduction of the pension charge cap in April 2015, many employers will have no choice but to review their support options. But, what is involved in transitioning your auto-enrolment scheme away from your current support options? This guide from Johnson Fleming aims to outline some of these key areas and provide information and discussion points on what you need to consider.

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