If you own or run a business you probably know that you must now meet pension auto enrolment requirements for your employees. This means you have to put eligible workers into an automatic pension scheme and make a minimum contribution.
And if you fail to do this you could face action from the Government’s Pensions Regulator.
It has already started!
Wake up figures
During the last financial year the Pensions Regulator used its enforcement powers on 8,812 occasions and as a part of this over 6,000 compliance notices were issued.
Most importantly, over 2,000 fixed penalty notices were given.
That’s over 300 more than in the previous year!
Since 2012 the deadline for compliance has been staggered.
The largest businesses were targeted first with enrolment deadlines for smaller businesses (one to 49 employees) following.
All of these smaller organisations must however have everything in place by 2018 and even those who employ a single worker such as a nanny or a cleaner must comply.
We’re here to help
Do you think you may need some assistance with auto enrolment?
If yes, we can help.
For advice and guidance please call Aspirations Accountancy on 01634 298238 or email firstname.lastname@example.org