30% miss staging dates

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| Month: March 2017

30% miss staging dates

Nearly a third of companies are seeking Auto-Enrolment support AFTER the deadline to do so has passed. Companies that miss their staging dates face fines of up to £500. But The Pensions Regulator may be sympathetic if you act quickly. The figures are based on 102 employers that registered with the pensions trust of the Corinthian

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21st March 2017 — Read this story in full.

Auto-enrolment reprieve for new businesses

New businesses offered a reprieve The government has confirmed that new businesses will be offered a reprieve of up to three months before they have to enrol their employees in a workplace pension. This reprieve is already in place for existing companies when they reach their staging date. However, it does not exist for new

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21st March 2017 — Read this story in full.

143% increase in warnings to meet pensions auto-enrolment deadlines

Warnings issued to employers who fail to meet their pensions obligations deadlines have risen by 143 percent. The increase refers to the 870 Escalating Penalty Notices issued in the last quarter of 2016. This brings the total number issued since auto-enrolment began to 1,477. In the same period, the number of Fixed Penalty Notices –

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21st March 2017 — Read this story in full.

Spot checks to make sure employers comply with AE

Spot checks are to be carried out on employers across the UK to ensure they comply with auto-enrolment duties. The inspections are part of The Pensions Regulator’s (TPR) ongoing enforcement activity to ensure employers comply with auto-enrolment obligations and are meeting their pension duties correctly. Employers TPR judges to be at risk of failing to

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17th March 2017 — Read this story in full.

Master Trust accreditations

Corinthian’s Master Trust will soon have to comply with five new benchmarks to provide a five-star service. Corinthian’s preferred pension scheme, Salvus Master Trust, has already achieved the Master Trust Assurance Framework (MAF) accreditation. This is the Pensions Regulator’s new standard. It has also received a five-star rating from Defaqto, the independent financial products researcher.

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17th March 2017 — Read this story in full.

Give your feedback on auto-enrolment

The Department for Work and Pensions’ (DWP) are reviewing auto-enrolment feedback. Auto-enrolment feedback is wanted on the existing and future coverage of employee engagement and contribution levels. Employers, employee representatives, pension industry professionals, accountants, payroll staff, independent financial advisers, employee benefits consultants and the general public have until 22 March 2017 to respond. The DWP,

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17th March 2017 — Read this story in full.

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