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.