As we move in to March 2015, those with a Staging Date of 1st October 2014 should now have completed their Declaration of Compliance and submitted this online to The Pensions Regulator (TPR). Research suggests, however, that many have yet to do so. These companies are now at the mercy of TPR and may receive notices and fines as a result of this inactivity.
It may be that companies have forgotten to complete this Declaration, or did not know about this. The more worrying possibility is that these companies have done nothing at all to prepare for Auto Enrolment, and that this is the first sign of their non-compliance.
Those who do not comply with Auto Enrolment legislation run the risk of compliance notices and potentially large fines. These fines, as Auto Enrolment reaches increasing numbers of smaller companies, are becoming ever more frequent. The number of compliance notices, instructing employers to remedy a breach or risk a fine or further action issued between October and December 2014 rose to 1,139, compared to 163 in the previous period. Whilst 166 fines of £400 were issued in the same period. TPR expect more fines over the coming months as smaller employers are faced with the practicalities of Auto Enrolment.
In order to ensure that you do not fall foul of the myriad of rules, it is recommended that you seek advice when trying to navigate your way through this process.
If you are one of those companies that has missed this deadline, or indeed has missed your Staging Date without meeting your employer duties it is not too late to right any wrongs.
If you require any assistance please contact us on 01246 559955.
