Regulator uses powers 50,000 times for pension failures
Fixed penalties worth nearly £5million were issued to companies for failing to comply with auto-enrolment in the last financial year.
Data released by the Pensions Regulator showed there 12,181 such £400 fines handed out – equating to £4,872,400. See table below.
There were 398 cases of whistleblowing to the regulator over various aspects of non-compliance. See table below.
Between April 2016 and March 2017 the regulator used formal powers on 50,068 occasions - a 41,256 increase on the number of powers used in 2016.
This number has risen in proportion to the volume of employers who have reached their staging dates, TPR pointed out.
In a report this week, it stated: “The number of escalating penalty notices continued to increase substantially, in line with the rise in small employers staging and the behaviour we expected from this group.
“Although the number of compliance notices has risen to over 33,000, we find the majority of employers subsequently comply when reminded of their duties.
“As we continue to deal with small and micro employers there has been an increasing number who, despite the message to prepare early, leave it too late or don’t act at all.
“Engaging with us early in the process and working to put things right can help avoid penalty notices and fines. If an employer has chosen to ignore their duties, we will use our powers where appropriate to ensure compliance.”
Between April 2016 and March 2017, TPR received 193 Tribunal appeals and decided to defend 111 cases. Of the 70 appeals decided by the Tribunal, the notice was confirmed in 69 cases.