The last quarterly update form the Pensions Regulator (tPR) highlighted that employers are simply not taking auto-enrollment seriously enough and leaving things to the last minute. It’s also worth noting that a lot of the enforcement actions reported from the last quarter will be relating to staging dates in June, July and August last year, as their Declarations of Compliance won’t have been due until October, November and December, and tPR seems to be giving employers the chance to put things right themselves before slapping them with a fine.
Therefore, in this worrying trend of increasing non-compliance, 36% of all Fixed Penalty Notices issued in the last quarter and 75% of all Escalating Penalty Notices are probably not yet relating to micro employers.
Apparently one in two employers staging today are going directly to NEST, which is very worrying as there is a misapprehension that going to NEST will mean they’ve complied. Therefore, I thought it would be useful to dispel some of the myths about it.
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