It has been reported that employers are confused about compliance and administration for automatic enrolment, the Government’s scheme to move all workers into a pension plan. The Pensions Regulator has issued guidance and a plan to help employers understand what is required of them and importantly when it is required. This is being phased in between now and 2016. Employers with fewer than 500 staff are expected to have their staging date by now.
Failure to introduce a compliant scheme by the given staging date will be a criminal offence attracting a fixed penalty fine of up to £50,000. You can access the 8 step plan from the Pensions Regulator and additional guidance here.