With the Pensions Regulator taking a harder line on compliance these employers face a risk of a fine they can ill afford.
Workplace pension service specialists, Husky Finance, today announces the launch of a new suite of Lifeline Services to support smaller employers who need help fast. These three new services provide business owners who have either left it too late or who have already missed their staging date with a lifeline.
The Express, Rescue and Emergency Services will get a smaller business compliant, without any compromises on scheme provider choice. The services save businesses time and are a cost effective option starting at just £250 compared to the smallest fines which start at £400.
The Express Service helps businesses who have left it to the last minute to choose and set up a compliant scheme. Any business within one month of their staging date can be helped and will benefit from having a scheme in place in time. The Rescue Service is aimed at businesses who have missed their staging date completely, but are between 1 and 5 months past this date. Husky will set up a scheme based on the business’s choice and will back-date the contributions, manage communication with the company’s workers as well as informing the Regulator. The Emergency Service is a bespoke service designed for businesses that are more than 5 months past their Staging Date and already incurring fines from The Regulator.
Nick Keppel-Palmer, Chief Strategy Office at Husky Finance, said:
“It’s tough enough for small employers to cope with auto enrolment legislation without the added stress of being fined if they are late, or have missed a deadline. It’s a complicated process which is much too easy to get wrong – especially if you’re in a hurry. When we noticed more and more employers getting fined, or leaving it to the last minute, we knew we had to do something to help them. We can deal with the process much faster than any employer could – so we’ve set up a team focused on doing everything we can to get them out of trouble. Our aim is to get them compliant, in a good scheme, with minimal stress.”
