In a recent press release The Pensions Regulator urged small and micro employers to check how auto enrolment affects them. It comes at a time when quarterly figures show a rise in the number of non compliance penalties being issued.
The penalties for non compliance are sizeable and can include a fixed £400 penalty and an escalating penalty of £50 to £10,000 per day depending on number of staff.
The Pensions Regulator detailed two employers who were fined £400 when they did not comply with their duties after failing to understand how the law affected them:
- A garage owner failed to complete a declaration of compliance as they thought a staff member had done it.
- A travel agent with no staff eligible for automatic enrolment failed to complete other duties such as completing their declaration of compliance after wrongly assuming the law did not apply to them.
The good news is that Grant & Co can help. Whether you need just a little assistance to meet your new duties, or a fully comprehensive service, our value for money solution can be tailored to meet your exact needs. We can:
- Introduce you to our experienced payroll team who will ensure the smooth transfer of your payroll scheme to our systems
- Assist with choice & set up of a compliant pension scheme
- Assess your workforce
- Calculate your costs
- Handle statutory staff communications
- Enrol your staff into your chosen pension scheme
- Calculate & report pensions contributions
- Complete The Pensions Regulator declaration of compliance
- Manage your ongoing employer duties
Call us today for a free, initial consultation.