What penalties you could face?

Penalties You Could Face If You Don’t Comply

You could be fined a fixed penalty which is set at £400 if you fail to comply with statutory notices.

The Pensions Regulator can also issue escalating penalties. The penalties range from £50 to £10,000 per day depending on the number of staff you employ.

If you fail to pay the contributions that you legally owe your staff The Pensions Regulator has the power to issue an alternative penalty. This penalty can be up to £5,000 for individuals. There can also be fines of up to £50,000 for the company itself.

The Pensions Regulator can and will initiate formal legal proceedings to recover penalties that businesses and employers have been issued with. Employers who are found to have breached their duties also face criminal prosecution.

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