automatic enrolment

Accountant trustee jailed for plundering company pension scheme

An accountant has been jailed for more than three years after he fraudulently took more than £290,000 from a pension scheme. Roger William Bessent was a trustee and administrator for the Focusplay Retirement Benefit Scheme but transferred savers’ money into struggling and new businesses he part owned and which were run by himself, his family and a client. He now

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AE pension contributions set to rise

From 6 April, the minimum contributions employers and their staff must pay into their automatic enrolment workplace pension scheme will increase. The employer minimum contribution will rise from 2% to 3%, while the staff contribution increases from 3% to 5%. This means the total contribution overall goes up from 5% to 8%, in a process known as ‘phasing’. Overseeing body

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Keeping pensions safe for the millions newly saving

A report published demonstrates how The Pensions Regulator (TPR) is working to make sure members’ savings stay safe. TPR’s latest quarterly compliance and enforcement bulletin  follows news that 10 million people are newly saving or saving more thanks to automatic enrolment. The bulletin demonstrates the wide ranging action TPR is taking to protect savers and ensure staff receive the pensions they

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TPR action leads to NOW: Pensions overhauling its administration system

Demands from the Pensions Regulator (TPR)  for NOW: Pensions to overhaul its administration system, have led to the pension contributions of hundreds of thousands of people being collected and invested. In April 2016, an estimated £18 million of pensions contributions, affecting over 265,000 people, had not been collected by NOW: Pensions. There were ongoing problems with the collection, and also

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Company chief executive banned from being a trustee

The chief executive of a company that packages some of Britain’s most famous brands has been convicted of refusing to give information to The Pensions Regulator (TPR). Thomas Christopher Wrigley, who was both the CEO and major shareholder of Discovery Flexibles Limited as well as being the chair of trustees for the company’s pension scheme, repeatedly refused to comply with

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Scam awareness campaign prompts tens of thousands of pension holders to seek information

The number of people seeking information about pension scams has soared since the launch of the first joint campaign by the Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) this summer. In the 55 days before the launch around 31,000 people visited the ScamSmart website at an average of 562 per day. In the 55 days after the launch

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Accountant fined for breaking pension enrolment rules

An accountant working for a London cafe has been ordered to pay £6,857 after he admitted falsely claiming to The Pensions Regulator (TPR) that staff had been enrolled into pensions. It is the first time that TPR has prosecuted a third party, working on behalf of an employer, for this offence. Gran Caffe Londra in Knightsbridge, run by Primadell Ltd,

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Court hands recruitment firm largest fine and first custodial sentences to follow a TPR prosecution

A national recruitment agency, its directors and senior staff have been ordered to pay more than £280,000 for plotting to illegally opt temporary workers out of their pension scheme. The prosecution of Derby-based Workchain Ltd and its staff has led to the largest fine and first custodial sentences for a case brought by The Pensions Regulator (TPR). Owners and directors

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Milestone for workplace pensions regulation as TPR launches new approach

An increasing number of workplace pension schemes will come under greater scrutiny from The Pensions Regulator (TPR) from next month as part of a significant shift in its approach to protect savers. To reflect major changes in the political, economic and pensions landscape, TPR will be working proactively with more pension schemes through a new range of interventions to address

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