Bexley employers warned over workplace pension compliance
PUBLISHED: 15:38 16 May 2016 | UPDATED: 15:38 16 May 2016
Firms that fail to comply could face a fine of £400
Employers across Bexley have been warned to act on time to comply with workplace pension laws or face a £400 fine.
The Pensions Regulator (TPR) has issued the warning as around 1,700 small businesses across the borough approach the date they will need to be ready to put staff into a pension.
All employers have specific deadlines by which they need to have complied with their new legal duties, and they will receive a letter from TPR alerting them to the key dates.
Around 96 per cent of the first wave of small employers required to put their staff into a pension have now complied with the law, which applies to all types of small and micro employers, including those who only employ one person.
TPR’s executive director of automatic enrolment Charles Counsell said: “We are tasked with ensuring employers comply with the law so that staff receive the pension they are entitled to. Around 124,000 employers have automatically enrolled more than six million staff into a pension.
“We give employers plenty of notice and the information they need, but it is up to them to ensure they allow enough time to get ready.
“Employers can avoid the risk of a fine by making sure they do not bury their heads in the sand and start planning when they need to.”
The TV character Workie is set to return to television screens this month as a reminder not to ignore the workplace pension.
More information is available at http://www.thepensionsregulator.gov.uk/