Workplace Pensions – Company fines increasing!

Employers are facing new challenges when it comes to the Workplace Pensions.  In the next 12 months over 500,000 employers will go through automatic enrolment.  The Pensions Regulator (TPR) expect to see a rise in the number of times they need to use their powers, so the message to employers remains clear:

Workplace pension

Workplace pension

 “Start getting your plans in place early or you risk being fined”.

Contact Assured Wealth IFA Altrincham for the help and advice you are going to need.

Some of the powers used by TPR for Workplace Pensions, between July 2012 and the end of September 2015:

  •  2,248 compliance notices
  • 145 unpaid contribution notices
  • 582 fixed penalty notices
  • 7 escalating penalty notices

There is NO reason why any employer should be getting fined for non-compliance, simply set-up your scheme now and leave it in place until the time at which your company reaches it’s staging date (start date).

With Offices throughout the northwest, you could speak to any of our Altrincham financial advisers or depending on your location one of our Warrington financial advisers.  
We offer a one off fixed fee of £495 plus VAT to:


Assess your workforce

Calculate which payment method to use; the wrong one can cost you thousands in extra pension contributions.

Set-up your scheme

Register the scheme with the regulator (TPR)

We will also run a one hour session for your employees, to explain who the pension works, who runs it, what deductions will be made both now and in the future.

The fee for setting up the pension scheme and running a workshop is £995 plus VAT.

Call our Pensions Team today on 0843 515 5161, to book a FREE review of your Workplace Pension needs.

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