The Pensions Regulator (TPR) has indicated in the latest compliance and enforcement bulletin, that they plan to highlight businesses who fail to comply with the auto-enrolment requirements. This will be delivered through the Escalating Penalty Notice (EPN), publishing employers’ name, part postcode and amount fined. The TRP indicates that employers who do not adhere to the requirements could damage their own business reputation, by trying to avoid providing the pension their staff are due.
Since the previous quarter, TPR has indicated that over ½ million employers have met the automatic enrolment requirement, with their staff now saving for retirement. However, to balance this, there has been an increase of 14.5k Fixed Penalty Notices (FPNs) and 2.5k Escalating Penalty Notices (EPNs) presented to employers failing to comply.
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