The Pensions Regulator has announced that it will prosecute a national recruitment firm, its directors and some of its senior staff on the suspicion that they illegally opted employees out of the company’s pension scheme.
This is the first time that The Pensions Regulator has launched prosecutions for this offence, and a conviction carries a maximum sentence of six month’s imprisonment and/or an unlimited fine.
As a reminder, employers need to:
- pay regular contributions into the pension scheme
- monitor the age and earnings of their staff and enrol any eligible staff
- process any requests to join or leave the scheme
- keep and maintain accurate records
- re-enrol eligible staff every three years if they are not already active members of the scheme.
If you would like further information and guidance, then please call Lee Reynolds, Senior Payroll Manager on 01788 539000.