Pensions regulator issues auto-enrolment guidance for pandemic

The Pensions Regulator (TPR) has issued guidance covering automatic enrolment and employer contributions during the coronavirus (COVID-19) pandemic.

Call 01277 622888 or email info@danieljamesaccountants.co.uk

The Pensions Regulator (TPR) has issued guidance covering automatic enrolment and employer contributions during the coronavirus (COVID-19) pandemic.

The Regulator said it recognises the strain employers are under during the crisis and is taking a 'proportionate and risk-based approach'. The TPR has written to pensions providers asking them to be 'as flexible as possible' when agreeing contribution payment dates.

It has extended the period in which schemes must report payment failures from 90 days to 150 days in order to give trustees and providers more time to work with employers and bring payments up to date.

The TPR advised businesses that have furloughed staff to claim back minimum auto-enrolment employer contributions using the government's Coronavirus Job Retention Scheme.

The Regulator also issued new employer guidance on what employers need to know about payroll, re-enrolment responsibilities and what to do if employees ask to opt out or reduce their contributions.

Joe Turner, Head of Automatic Enrolment at the TPR, said: 'These are unprecedented times and we are acutely aware of the pressure employers are now under. While employers continue to have responsibilities, we are weaving in as much flexibility as possible to help employers and protect savers.'

The guidance forms part of the Regulator's wider package of measures to safeguard pensions against the challenges of the pandemic.

© 2020 Daniel James. All rights reserved. powered by totalSOLUTION

Daniel James & Partners LLP is a limited liability partnership registered in England & Wales (registered number: OC318693). The word ‘partner’, used in relation to the LLP, refers to a member of the LLP. A list of the members of the LLP, is displayed at the LLP’s registered office: Radford Business Centre, Radford Way, Billericay, Essex, CM12 0BZ, United Kingdom. We use ‘Daniel James’ to refer to Daniel James & Partners LLP.
Professional indemnity insurance is compulsory for all members of the IFA who engage in public practice. Our professional indemnity insurer is Hiscox Insurance Company Limited, 1 Great St Helens, London, EC3A 6HX.

Latest news
Contact Details

Please call:
01277 622888

Daniel James, Suite L, Radford Business Centre, Radford Way, Billericay, Essex CM12 0BZ

Home | Contact us | Site map | Accessibility | Disclaimer | Privacy | Help |

We use cookies on this website, you can find more information about cookies here.