TPR to fine providers for inadequate AE reporting

The pensions watchdog published a consultation on providers' and pension scheme trustees' duty to report auto-enrolment breaches today. Under the plans providers who do not fully report wilful non-compliance by employers, systemic payment failures and fraud could be fined. The consultation said: "Those running schemes should seek to establish the reasons and circumstances that give rise to a contribution that falls to be paid not being paid in full on time. "This will allow trustees and providers to identify and correct any administrative errors that arise and restrict reporting t...