Can you afford not to Auto Enrol?

22nd May 2016 Nicky Cole
Can you afford not to Auto Enrol?

With the roll-out of auto enrolment well under way, employers who fail to meet their AE duties face harsh penalties.

The Pensions Regulator reports a growing number of compliance notices being issued, as the smaller employers begin to roll-out.  In most cases it’s because the employer has left it too late or doesn’t act at all.

A minority of employers still don’t act even after receiving a £400 fixed penalty – although most do!

Employers that still fail to comply will be issued with escalating daily penalties until compliance is achieved.

No of Employees Daily accrual rate
1-4 £50
5-49 £500
50-249 £2,500
250-499 £5,000
500 or more £10,000

 

Remember, auto enrolment is not a choice – it’s the law!

If you’re not sure what your duties are, or are worried about auto enrolment, give us a call now rather than paying the penalties later.

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