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31 August 2016
By EEBS
Enforcement action against businesses that have failed to meet their pension auto-enrolment requirements has risen by 306%, according to data from the Pensions Regulator.
The data reveals the watchdog used its enforcement powers on a total of 8,812 occasions between April 2015 and March 2016. During this time some 6,241 compliance notices were issued, while 2,002 fixed penalty notices were also handed out.
The findings come as hundreds of thousands of small and micro businesses are approaching their staging dates for automatic enrolment.
Pension auto-enrolment: don’t pay the price for non-compliance
With enforcement action for non-compliance on the rise, employers should ensure that they fully understand their new responsibilities.
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