New Automatic Enrolment Information from The Pensions Regulator
- New employers: TPR remind new employers to keep their letter code to hand - it’s needed to complete the declaration of compliance and access TPR’s other online tools.
- Employers who no longer employ anyone: TPR ask that employers who have ceased trading, or no longer employ anyone, contact TPR when they receive a letter from them – this is to avoid possible enforcement action.
- Re-enrolment and re-declaration: For small and micro employers approaching their 3 year re-enrolment window, TPR highlight the requirement for employers to re-enrol and re-declare – it’s a 2-stage process.
TPR have prepared a suite of content and materials that you can download and use. The toolkit can be downloaded for employers and business advisers.
Pension scams: Millions could be at risk
TPR are also keen to continue amplifying the noise around pension scams and the danger signs to look out for.
The joint FCA/TPR ScamSmart pension campaign launched at the beginning of July, and continues throughout the summer. The FCA and TPR recently published new research which reveals millions of people could fall for pension scam tactics. Key findings show that cold calls, unusual investments and early access to cash are among the most persuasive tactics used by fraudsters and – alarmingly – that those who consider themselves financially savvy are just as likely to fall victim to a pension scam. The recent ScamSmart quiz on FCA’s website demonstrates just how easy it is to be scammed – encourage your staff to stay alert to the danger signs of a pension scam. Visit www.thepensionsregulator.gov.uk/pension-scams for more information.
