Act NOW if your company has to set up workplace pensions in 2016/17
Swindon Town Football Club is the latest high profile company to be fined after failing to meet their obligations to set up pensions for its staff under the new auto enrolment rules.
The Pensions Regulator fined the football club over £20,000 for not putting eligible staff into a pension scheme, not paying pension contributions, and not writing to staff to explain how the new auto enrolment rules affect them.
Steve Cook, Director & Independent Financial Adviser at Lonsdale Services, St Albans said:
‘Lonsdale Services has experience of auto enrolling many businesses, but we’re now finding smaller companies are starting to need our advice. We recommend any business setting up workplace pensions starts auto enrolment planning twelve months in advance of their company staging date. This allows time to review your auto enrolment requirements, provide pension advice and recommend a workplace pension solution for your company. As well as managing auto enrolment projects ourselves our Independent Financial Advisers work with other auto enrolment partners to help provide your company with a cost effective auto enrolment solution. If your company is due to stage in 2016/17 call us on 01727 845500 or complete our enquiry form.’
The Financial Conduct Authority does not regulate some elements of auto-enrolment.