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Stakeholder pensions were introduced some years ago. I didn’t do anything then and nothing happened, so why should I do anything now?

When stakeholder pensions were introduced there was no legal obligation for employers to make contributions into the scheme. Now, as an employer, you must comply with all your duties, including making contributions into the scheme.

How will they know?

You must register your workplace pension scheme with the Pensions Regulator by your staging date and they will audit your company to make sure you are fulfilling your duties.

What happens if I don’t comply?

The Pension Regulator can levy heavy fines if you are found to be in breach of any of your responsibilities, which include:


  • Failing to register your scheme with the regulator;
  • Inducing or coercing employees to opt out of your scheme;
  • Failing to meet monthly contributions.

Companies employing a workforce of:

The daily fine that could be applied:

1 – 4 £50.00 per day
5 – 49 £500.00 per day
50 – 249 £2,500.00 per day

What is this going to cost?

You can phase in contribution for both you and your employees up to the 1st October 2018. The table below outlines how this could be achieved:

Employer’s staging date Minimum employer’s contribution Total minimum contributions
Up to and including 30/09/2017 1% 2%
01/10/2017 – 30/09/2018 2% 5%
01/10/2018 onwards 3% 8%

Our Contact Details:

Telephone: 0345 314 8972
Address: Suite 86 Wterhouse Business Centre, Cromar Way, Chelmsford, Essex CM1 2QE
Contact: Gary Keeley

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