UK - Two employers have been fined a total of £5500 for failing to make payments into personal pension plans.
Manchester-based software consultancy Poptel was fined £3800 for failing to make contributions into the Scottish Equitable Personal Pension Scheme, both on its own behalf and that of employees throughout 2001 and 2002.
The OPRA ruling said: “The implication was that cashflow problems and company difficulties led to late payments over a period of several months.
“This is an absolute offence, and the argument that the company was in financial difficulties is a mitigating circumstance which has been taken into account in setting the penalties.”
And Belfast-based building firm James E Ball was fined £1700 for failing to make contributions both on its own behalf and on that of employees, into the Scottish Equitable Personal Pension Scheme throughout 2001, 2002 and 2003.
Proposed changes to The Pensions Regulator's (TPR) notifiable events framework so it can be more proactive when corporates make changes will create a very challenging workload, it has been said.
Aviva has created a new pension skill for Amazon Alexa that allows customers to find out how much they have saved towards their retirement.
PP has compiled a list of what to watch out for over the coming months.
The proposed cold-calling ban may be ineffective if a collaborative regulatory approach between the UK and the European Union (EU) is not maintained post-Brexit, the Pensions Management Institute (PMI) has warned.