The process of automatically enrolling employees into a workplace pension has been ongoing since 2012. By the end of 2015, all employers with 30 or more employees should have completed this process. This leaves the remaining, smaller employers to complete this process over the course of 2016.
The Pensions Regulator has issued a brief reminder on their website, highlighting the need for those remaining employers – those with fewer than 30 employees – to act now if they are to meet their obligations and not be subjected to sanctions for non-compliance, which can result in penalties of up to £50,000.
If you do need any guidance on this issue, please contact your Adviser who will be able to see if one of our business partners can assist.