Bus company and boss left with bill of more than £60k for deliberately failing to give their staff workplace pensions 14 February 2018
Stotts Tours (Oldham) and Alan Stott (Managing Director) will have to pay more than £60,000 after they admitted trying to deliberately avoid giving their staff workplace pensions – the first such prosecution by The Pensions Regulator (TPR).
District Judge Teresa Szagun said: “Initially Mr Stott’s attitude was to bury his head in the sand. This later left him in a position where he was out of his depth.”
Darren Ryder, TPR’s Director of Automatic Enrolment, said:
“Compliance with automatic enrolment remains very high and so it’s extremely disappointing that a tiny minority of employers continue to flout the law by denying their staff the pensions they are entitled to. This case shows the cost to employers that failing to comply with automatic enrolment can bring – a bill of tens of thousands of pounds, a criminal conviction and a damaged reputation.”
Automatic enrolment applies to all employers. Make sure your clients know what they need to do to meet their duties, and by when. Failing to comply with the law could result in a fine.
TPR has all the information you need on their website .
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NEST opt-outs lowest among youngest pension savers, at 4% 15 February 2018
Average opt-out rates rested at 4% for 22 to 29 year-old members of NEST in December last year, compared with 26% for 60- to 64-year-olds.
Speaking exclusively to Professional Pensions, NEST said its records indicate that opt-out rates were 6% for 30 to 39 year-olds, and 8% among its 40 to 49 year-old members at the end of 2017.
Meanwhile, opt-out rates among members aged between 50 and 59 were 14%, compared with 23% for those aged 65 to 75.
Read the full story from Professional Pensions .
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TPR begins carrying out spot checks on employers across Northern Ireland 19 February 2018
Northern Ireland is the latest place to be subject to spot checks to ensure employers are complying with their automatic enrolment duties.
These spots checks form part of a continuing nationwide enforcement campaign to ensure that employers are meeting their automatic duties correctly.
Darren Ryder, TPR’s Director of Automatic Enrolment, said:
“The vast majority of employers are compliant with the law, but these visits help us identify why some may be struggling so we can take action where we need to.Automatic enrolment is not an option, it’s the law. Where we find employers are not complying, we will use our powers to ensure they comply so that staff receive the pensions they are entitled to."
The Chartered Institute of Payroll Professionals
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