Why is Opting Staff out of a Pension like Hacking the CIA Chief?

A hackerUntil recently, there wasn’t any apparent connection between an employer’s automatic enrolment duties and hacking, but this changed earlier this month, when The Pensions Regulator announced that it was to prosecute a recruitment company, Workchain Ltd, and seven related individuals. The regulator has a statutory objective to maximise employer compliance with automatic enrolment and it uses a range of tactics to achieve this. In this case, it employed a new tactic, which involved using legislation that had no direct connection with pensions whatsoever – namely, the Computer Misuse Act, 1990. Read more Why is Opting Staff out of a Pension like Hacking the CIA Chief?

A Criminal Declaration

PinocchioBack in June, I explained┬áthat entering false information on The Pension Regulator’s declaration of compliance is a criminal offence, albeit one which hadn’t as yet seen any prosecutions. However, on 7th March 2018, Crest Healthcare and a related individual pleaded guilty in the first prosecution of its kind.

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Exit, Stage Left

Tomorrowland SignNew businesses that make their first payments to employees today will be allocated an automatic enrolment staging date of 1st February 2018. This is the date when they must assess their workers for enrolment into a pension, unless they are operating postponement.

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A Pivotal Stage of Auto Enrolment

A StageAutomatic enrolment was devised with a long term aim that lots of employees should save meaningful amounts for their old age. That aim was divided up into two sections, each subdivided into steps. The first section is called staging and is bringing in lots of employers and their employees, in stages. This is why the date an employer’s duties start is known as their staging date. So what happens if an employer sticks their head in the sand and ignores their staging date?

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