Right now, you are heading towards The Pension Regulator’s list of non-complaint firms. There is a clear process and immediate fines for businesses that are operating illegally.
If you receive a letter – here’s what you’re in for:
A fixed penalty notice of £400 for a breach of the law
Further escalating penalty notices with a prescribed daily rate of £50 to £10,000 depending on the size of your business
High workplace pension scheme implementation fees of £5,000+ as you require immediate and urgent help
Don’t worry. You probably still have time to stop this happening to you. We are helping dozens of clients every week to ensure they get a scheme in place and avoid having their business disrupted with fines and personal stress.
You might have good intentions to get a scheme implemented, but just not got around to it. In reality that means you could be operating on the fringes of the law right now and could soon be liable to penalty notices.
Don’t panic yet. There is still time. As of today we have a team who have the capacity to get you set up right away, but as the 1,000,000+ businesses in the UK yet to implement a scheme wake up this will soon get swallowed up. When this happens it is probable that fees will soar across the market.
In less than 5 minutes we can let you know what needs to be done and when.
Either way you need to do something about this.
Not next week.
Call 0330 088 11 56. Leo will assess your situation. It will take about 5 minutes.
P.S. The worst possible outcome is you get fined, your employees see you as someone who swindled them out of money due to them, some staff leave and your practice performance suffers as a result of the disruption.
To date, over a thousand compliance notices have been issued. Is one going to come through your letter box soon?