Watchdog Fines Co. £350K For Breaking Pension Rules
Law360, London (August 22, 2019, 4:17 PM BST) -- Britain’s pensions watchdog said on Thursday that it has hit a company with a £350,000 ($426,000) fine for failing to correctly re-enroll employees into its retirement scheme and pay them the right contributions.
The Pensions Regulator said the London-based employer, which it would not name, failed to provide it with documentation to prove it had fulfilled its obligations to re-enroll its workers. Businesses must put staff who have opted out of their pensions, or who have stopped making payments, back into the company scheme every three years under automatic enrollment rules.
The watchdog said a spot-check of the company, which employs...
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