Shedding light on some complex issues that can arise with UK auto-enrolment.
In the UK, The Pensions Regulator (TPR) recently published its first report on enforcement action it has taken against an employer for non-compliance with the new employer duties under the automatic enrolment regime. As we have outlined in previous Client Alerts the key duties require employers to automatically enrol eligible workers into a pension plan and pay contributions to that plan in respect of them. In the case in question, the employer was late in auto-enrolling some of its eligible workers, failed to calculate and make the correct contributions to the plan on a timely basis, and provided TPR with incorrect information seeking to “cover up” its failures when completing the compulsory registration process. When TPR began to investigate the matter, the employer was generally co-operative, and this appears to have influenced TPR’s decision simply to seek to remedy the non-compliance rather than impose any kind of penalty. TPR’s enforcement powers include the ability to fine a non-compliant employer up to £10,000 per day.
In light of this new report by TPR, this Client Alert looks to shed some light on some tricky issues that employers can encounter in connection with their duties under the new regime.
Please see full alert below for more information.
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