The Pensions Regulator has warned small businesses that they risk being issued with a penalty for failing to meet their obligations to provide a workplace pension. He has emphasised that if a firm has a registered PAYE scheme then it will receive a letter informing them of a staging date even if they have no qualifying employees. If those firms fail to contact him then they will trigger compliance action.
Any firm with a qualifying employee must provide a workplace pension by their staging date. The regulator has expressed concern that some smaller employers are leaving things too late to comply with their obligations. He has said that people should start planning 12 months before their staging date and make the pension regulators website their first port of call.
As a firm we can help all clients meet their obligations under these regulations and will seek ways to do so at a reasonable cost. Anyone who is concerned about their ability to meet their obligations should contact us as soon as possible.