Is your auto-enrolment scheme compliant with TPR regulations?
Much of the emphasis with respect to auto-enrolment in recent times has been on ensuring that employers approaching auto-enrolment are fully prepared for their staging date.
Whilst this is important - the call to action from The Pensions Regulator (TPR) follows research published from the regulator on the 5 August showing almost two thirds of small and micro employers still do not know the exact date they need to start complying with automatic enrolment laws - it is important that employers who have been through the process can be sure that they are complying.
We understand that a growing proportion of the investigations into employers uncover breaches – which could of course result in prosecution by TPR.
A likely reason is a simple one – there are far more employers going through the process, a growing number of whom are doing so without guidance and support from a professional adviser. When teamed with other significant events at an employer – such as staff turnover in positions dealing with auto-enrolment, or perhaps other HR or finance projects getting in the way of the auto-enrolment project, you can see why the probability of unintentionally breaching the legislation increases.
"A growing proportion of the investigations into employers uncover breaches "
The next question is a straightforward one – should an employer assume that the project has gone well, or consider carrying out an audit to be confident that the law is being followed? We can see this becoming a tick box on the list of areas to check before the sale of a business in the future too.
