Pension watchdog fines employers £42 million in 2018

Pension watchdog fines employers £42 million in 2018

19/02/2019

Since 2012 companies have had to offer staff a workplace pension. The auto-enrolment scheme is largely considered to have been a big success with 8.8 million active pension savers now, an increase from 2.7 million since its launch.

However research recently published shows that, at some point half of pension records may be incorrect and that in the region of 1 in 20 remains uncorrected! These findings highlight the difficulties companies face navigating the pensions industry.

The pensions watchdog fined employers £42 million last year for auto-enrolment errors, compared to £12.6 million in 2017.

If you are concerned about the administration of auto-enrolment for your company, and think there may well be errors being made then do not hesitate to contact us to get some expert help to sort things out so that you can avoid becoming part of the ever increasing number of companies facing fines.

Call 01962 715671 or email sarah@winchesterbourne and we will be pleased to help you.

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