Law360, London (November 20, 2020, 11:14 AM GMT) -- The retirement savings watchdog said it will crack down on companies failing to make contributions to staff pension funds during the COVID-19 crisis, reversing an earlier soft-touch approach when the pandemic first hit.
The number of so-called unpaid contribution notices sent to employers by The Pensions Regulator has soared by 191.4% from 352 in the second quarter of the year to 1,026 in the three months to September.
The U.K.'s rules on automatic enrollment oblige companies to contribute at least 3% of their employees' earnings to workplace pensions plans. Trustees of the schemes are expected to report to the regulator within...
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