UK - A West Yorkshire-based publishing house has been fined for 26 separate failures to pay scheme contributions despite its provider failing to alert the company to the problem.
OPRA fined Sports Publications a total of £1300 for the payments failure, which continued for almost a year.
It stressed that the employer had not taken enough care in handling the transactions.
The regulator said it had taken into account that Scottish Equitable did not warn the employer or ask why payments were not being made.
A £50 penalty was set for each breach between September 2001 and August 2002.
“The employer should have taken more care to establish its obligations and the true facts,” said OPRA in its report on the decision.
Wallpaper manufacturer Distinctive Papers – another West Yorkshire-based firm – also incurred a total of £2000 for failing to make contributions to its scheme earlier this year.
OPRA said it had taken into account the fact that payments had still not been received when setting the penalty.
Distinctive Papers was fined £200 for each separate breach, occurring from May to October 2002.
With Brexit talks breaking down late on Sunday night in Brussels over the Irish border, investors may be wondering how to best navigate the next few weeks and months. Our assessment is that a number of UK assets have already priced in a significant chance...
Pension freedoms could generate as much as £1.9bn a year in tax revenue for the next 10 years, according to research by the Pensions Policy Institute (PPI).
The Pension Protection Fund (PPF) has conceded it does not have "all the data we need to calculate" the impact of last month's ruling that some benefits may be unlawful.
A looming court decision on gender equalisation of pension schemes could hit FTSE 100 profits by up to £15bn, Lane Clark and Peacock (LCP) says.