Don’t ignore your pension duties – it’s not worth risking your credit rating
The Pensions Regulator are beginning to see the first employers receive County Court Judgements (CCJs) for a failure to pay their automatic enrolment fines.
This can happen if you persistently ignore penalty notices they send you. If you don’t pay the fine within 30 days of receiving the CCJ, it gets entered on your credit record and remains there for six years, seriously affecting your ability to borrow money in the future. You can read more about it in The Pensions Regulator compliance and enforcement bulletin.
Don’t risk the future of your business by getting a CCJ because you’ve failed to pay your fine. They’re here to help, so read their guidance about what happens if you don’t comply or are late meeting your duties, so you can avoid serious consequences.
This information was provided by The Pensions Regulator.
Being a bira member gives you guaranteed acceptance to the bira workplace pension scheme. The competitive scheme has been designed specifically for independent retailers to ensure they are compliant and avoid potential fines.