Pensions Regulator Shows Teeth Over Automatic Enrolment
The recent confirmation that The Pensions Regulator has issued the first compliance notice against an employer for failing to register its pension scheme in accordance with the pensions auto-enrolment regulations.
Failure to comply with a compliance notice can lead to very substantial and escalating fines.
In addition, the regulator has opened 89 investigations into possible non-compliance with the regulations – which began being implemented in October 2012 and should be completed by 2018.
A further 38 informal warning letters have also been issued