Around one in ten employers are unaware of pensions auto-enrolment and a similar number intend to ignore it, according to new research.
A survey of 512 business leaders for a report produced by the Centre for Economics and Business Research found that 11 per cent did not know what pensions auto-enrolment was and eight per cent planned to ignore it completely.
The report, published in March on behalf of Creative Auto Enrolment, warned that employers unprepared for auto-enrolment risked regulatory action, including £400 fixed penalty notices and a requirement to make good missed contribution.
It added: “The legislation has been set up to ensure that The Pensions Regulator knows when each employer should have complied and whether they have done so correctly. It also gives The Pensions Regulator the power to levy daily fines of up to £500 per day on employers with up to 50 employees and even to bring criminal charges against directors in the case of wilful non-compliance. Doing nothing is simply not an option.”
Moore Thompson is offering a range of support to help employers meet auto-enrolment obligations, including a seminar focusing on auto-enrolment and payroll issues.
We are also offering two opportunities to attend the seminar, with events taking place at Peterborough’s Kingsgate Conference Centre on Tuesday, 19 May and at the Boathouse, Wisbech, on Tuesday, 2 June. Both seminars will take place from 4.30pm and will cover topics including:
- the real time information (RTI) reporting regime and penalties
- changes to the employment allowance from April 2015
- shared parental leave and pay
- forthcoming changes to the Construction Industry Scheme
- what auto-enrolment means for your business
- putting in place a qualifying pension scheme or upgrading an existing scheme
- pension scheme administration, record-keeping and reporting.
To book a place at the seminars, or to be notified of future events in our seminar programme, please contact Louise Bacon at email@example.com or on 01775 711333.