On the go: The number of auto-enrolment compliance notices issued by the Pensions Regulator reduced substantially during the final two quarters of 2018.
The number of compliance notices issued in Q4 2018 fell to 6,795 compared with 14,997 issued in the previous quarter, according to the regulator’s latest compliance and enforcement bulletin.
Moreover, 5,758 fixed penalty notices were issued in the quarter compared with 12,551 in the previous quarter, and 88 inspections were carried out compared with 111 in the previous quarter.
The watchdog said the reduction in compliance notices issued is due to the change in the type of employer subject to auto-enrolment duties during the second half of 2018, from employers with a staging date to new employers, as well as increasing numbers of employers with redeclaration duties.
This resulted in a decrease in the volume of employers due to comply with their duties during the quarter.
Commenting on the quarterly bulletin, the regulator's director of automatic enrolment, Darren Ryder said: “More than 1.4 million employers have done the right thing for their staff and we’re delighted so many now have the opportunity to save for later in life. But we are not complacent and will continue to ensure employers and their advisers meet their responsibilities.”
He added: “We will not tolerate behaviour by employers or their advisers that sees pension savers short changed by not being put into a scheme.”
TPR executive director of frontline regulation, Nicola Parish, said: “This report highlights the many wide-ranging powers and ways of working that we are using to protect savers – from helping trustees deal more robustly with employers, to taking swift court action when we suspect members’ savings are at imminent risk. Our clearer, quicker and tougher approach is having a real impact.”
Earlier this week it was announced that 10m employees have now been put into a workplace pension.
