More firms fined over pension non-compliance

News update from CFM (UK) Ltd: Figures from the Pensions Regulator show the number of employers being fined up to £10,000 a day for not complying with the rules on workplace pensions has risen by 300% in three months. A small but growing number of businesses are refusing to enrol their workers into a pension scheme. These companies are now being hit with “escalating penalty notices” - a fine of between £50 and £10,000 a day, depending on the size of the business - after neither a compliance notice nor a follow-up £400 fixed penalty had any effect. The number of compliance notices issued in the first quarter of this year was 3,057, compared with 2,596 in the final three months of 2015.

The Guardian

Posted on April 29th 2016

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