£500 a day – the price to small firms of not providing an autoenrolement pension
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Time is running out. Anyone who employs anyone has to have an autoenrolement pension provision for them. For most companies this will apply from next year.
Not meeting your Autoenrolment obligations could quickly become costly. Not only will you have to back date contributions, but the fines will quickly mount up to significant sums:
- Up to £500 per day if you employ between 5 and 49 people
- Rising to £2,500 per day if you employ between 50 and 249 people