Reward Strategy. Incoporating Payroll World.
Hello there,

You are viewing this article as a guest, please login or register to read more. 

Employers fulfil pension duties despite pandemic challenges

The Pensions Regulator’s (TPR) temporary flexibilities led to a 55 percent fall in use of powers between April and June this year, its quarterly compliance and enforcement bulletin shows.

TwitterLinkedInFacebook

The bulletin revealed that despite the challenges of the pandemic, TPR has not seen a significant spike in missed pension contributions to date, and the vast majority of employers are meeting their automatic enrolment duties.

 

Over the course of the pandemic, TPR started taking a pragmatic approach to enforcement in light of cash flow issues for employers and to reduce the burden on administrators.

 

Despite this, the watchdog is reminding employers that COVID-19 has not changed their automatic enrolment responsibilities towards their staff. The regulator explained that it has continued to target employers who have committed serious breaches and where staff contributions have been at immediate risk.

 

Now that lockdown is being lifted, TPR has said it is returning to normal levels of enforcement activity.

 

Mel Charles, director of automatic enrolment at TPR, said: “Protecting savers remains at the heart of what we do, and we are reminding employers of their legal duties so that staff receive the pensions they are due.

 

“While our flexibilities have supported employers through unprecedented times, we have kept a close eye on compliance. Early indications are that the vast majority of employers have successfully met their duties, however we will take appropriate actions where employers fail to act.”

TwitterLinkedInFacebook
Add New Comment
You must be logged in to comment. Login or Register to access enhanced features of the website.

You might also like

Chancellor drops JSS employer contributions to 5%

Chancellor drops JSS employer contributions to 5%


Full agenda revealed: Reward & Payroll Summit

Full agenda revealed: Reward & Payroll Summit


Pension statements to be rid of jargon

Pension statements to be rid of jargon


What you need to know about the Kickstart Scheme

What you need to know about the Kickstart Scheme

LATEST PAYROLL AND REWARDS NEWS IN YOUR INBOX

Reward Strategy homepage
Reward Strategy RSS

Member of

Did you find our website useful?

Thank you for your input

Thank you for your feedback

reward-strategy.com - an online news and information service for the UK’s payroll, reward, pensions, benefits and HR sectors. reward-strategy.com is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Reward Strategy is committed to diversity in the workplace.
© Copyright Shard Financial Media Ltd