Auto-enrolment: Escalating fines start to bite

As predicted by many commentators, the number of employers fined by The Pensions Regulator for auto-enrolment failures has accelerated over the past six months. Some 198 firms were served fixed penalty notices the first quarter of the year and, for the first time, the daily escalating penalty notices have been used. As the employers hit with escalating penalty notices are likely to have staged between June and October last year, and the penalties are based upon the size of the employer, fines are likely to be £2,500 per day for every day the employer fails to become compliant. With...