First master trusts hit with fines

The Pensions Regulator (TPR) issued its first fines against master trusts who fail to fully demonstrate good governance. The trustee of Nurture Master Trust was ordered to pay £2,000 for failing to prepare a chair’s statement for the scheme. The maximum fine was imposed because the scheme had a professional trustee in place and there were

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15th January 2017 — Read this story in full.

The 7 Deadly Sins of Auto-Enrolment

1. With over 1 million small businesses yet to reach their Auto-Enrolment (AE) staging date, it’s essential to plan early. Leaving it too late will create unnecessary time pressures, will increase the costs and could lead to a fine! Unfortunately, 1 in 5 businesses now miss their staging date completely. As a result, over 26,000

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13th December 2016 — Read this story in full.

Sharp increase in fines and penalties meted out over pension deadlines

The number of penalties and fines dealt out to companies who fail to meet their AE pension deadlines has soared. 15,073 compliance notices, ordering business owners to adhere to pension regulations were issued between July and September. That is almost 60% of the total since auto-enrolment began in 2012. Fixed penalty fines of £400 were

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2nd November 2016 — Read this story in full.

Many firms still unprepared for auto-enrolment

Are you unprepared for auto-enrolment? Almost two-thirds of accountancy firms say their clients are unprepared for auto-enrolment (AE). They also say the costs of meeting their new legal requirements at their staging dates have “significantly increased”. 61% practitioners questioned by Accountancy Age revealed their clients were “not very” or “not at all” prepared for AE.

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2nd November 2016 — Read this story in full.

Legal Scrutiny to fall on Master Trusts

Master trusts are to be under legal scrutiny and targeted with new restrictions as laws on pension schemes are strengthened. New legal powers to scrutinise these trusts had their first reading in the House of Lords this month. Corinthian Group Managing Director Robert MacGregor said: “We welcome the Pensions Bill being passed in law”. Corinthian’s

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2nd November 2016 — Read this story in full.

Beaufort Consulting gets rebrand after four years of rapid growth

Corinthian Group is the new group name for Beaufort Consulting, which has restructured its service offering as follows:     Corinthian Group Managing Director Robert MacGregor explained that the change was a result of a significant growth across all areas of its business over the first four years. “The change is entirely based on our

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1st November 2016 — Read this story in full.

Dispelling the Myths about NEST, by Lee French, director

Why do we need to dispell myths about NEST? 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

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23rd August 2016 — Read this story in full.

Queen’s Speech regulation shows Beaufort pensions to be among the best

Beaufort Consulting is delighted that its efforts to improve pensions for workers have been recognised in new regulations announced in the Queen’s Speech Beaufort is one of few to have its Salvus Master Trust achieve the Master Trust Assurance Framework (MAF) kite mark. This is the Pensions Regulator’s new standard, highlighted in the Queen’s speech

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15th May 2016 — Read this story in full.

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