Whilst the compliance levels for automatic enrolment into qualifying pension schemes remains high at more than 95% it is interesting to note that in their latest compliance report, The Pensions Regulator (TPR) reports that they have issued 2234 Fixed Penalty Notices and 127 Escalating Penalty Notices so far.
The full Compliance Report from TPR can be found here.
In the Report, the following point is made - As expected, the number of Escalating Penalty Notices we have had to issue is on the increase, in line with the rise in small employers staging, but it’s important to remember that this can be avoided by engaging with us early in the process and working to put things right.
