More than 160 employers were issued fixed penalties of £400 last year after The Pensions Regulator (TPR) ramped up the use of its powers for auto-enrolment failures.
The watchdog hit 166 businesses with fines in the last three months of the year, with only three firms receiving penalties over the previous nine months. There was also a surge in the number of compliance notices issued in the final quarter, at 1,139, compared to 163 between July and September 2014. Most of these related to a failure to complete their declaration of compliance by December, with around 30,000 medium sized employers expected to do so. According to research from TPR, most employers who have completed the AE process regretted not beginning it sooner. TPR director of...
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