Last year we highlighted the launch of the Department for Work and Pensions’ (DWP) auto-enrolment awareness campaign – fronted by that nice friendly monster Workie.
The Pensions Regulator (TPR), however, may not be so cuddly. In early January it issued this statement, with some of the most relevant passages reproduced below for information:
“Up to half a million small and micro employers must act this year to meet their new workplace pensions duties or risk a fine…
…Research shows that most employers want to do the right thing by their staff but that smaller employers are more likely to leave things to the last minute. As the regulator deals with smaller employers, it is expected there will be more who, despite the message to prepare early, leave it too late or do not take action at all. Failing to prepare on time risks avoidable compliance action.”
The message is clear. Employers reaching their staging date in the next 12 months are urged to take early action to avoid encountering a less benign representative of the DWP/TPR.
For the full original article and other similar posts, please visit the Jelf Group blog.