The pensions regulator is taking action against pension scams
Written by Cailín Reilly, BrightPay Payroll: A pension scam is where an individual tries to con you and your business out of your pension money. The Pensions Regulator has travelled across the UK to meet with pension advisors to highlight warning signs of workplace pension scams. These preventative measures were taken by TPR to warn payroll advisors about the risks and to ensure their clients do not fall victim to a scam. They were also aiming to ensure that the payroll advisors understand the appropriate steps to take if their clients have been scammed.
Here are some of the tell tale signs of a pension scam:
- Receiving cold calls in relation to a pension.
- Asking to transfer large sums of money.
- Offering assistance to access the pension early / before 55.
- Asking to transfer money ‘quickly’ or a general expression of haste.
- Proposing ‘unique’ or ‘overseas’ investment opportunities.
If you suspect a pension scam you can report your concern directly to Action Fraud - the national fraud and cybercrime reporting centre in the UK.
Written by Cailín Reilly, BrightPay Payroll
BrightPay is exhibiting at Accountex Summit North & Accountex London 2018.
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Auto Enrolment is not over yet
Written by BrightPay: While many employers have complied with automatic enrolment, the job is far from complete. The good news is over eight million workers are now saving towards their retirement as a direct result of the introduction of the workplace pension.
This year we are seeing the largest number of small and micro employers facing their auto enrolment journey. Additionally, new employers will immediately be affected by auto enrolment when they hire their first employee. Furthermore, larger companies have already rolled out their re-enrolment duties.
To ensure compliance, The Pensions Regulator is conducting spot checks on employers across all the major cities in the UK. Employers who fail to comply with face penalties and even court action.
Auto enrolment is not a once off task. All employers will continue to have ongoing duties and carry out their automatic re-enrolment duties every three years. Join BrightPay are we host a webinar designed for payroll bureaus to understand ‘The Future of Auto Enrolment’. We are delighted to introduce our expert, guest speaker, Henry Tapper from Pension Playpen. The webinar is completely free to attend and CPD accredited.
Webinar: The Future of Auto Enrolment with Guest Speaker Henry Tapper
● BrightPay: Auto Enrolment: This is what you must know this year
● Henry Tapper: All you NEED to know about choosing a pension scheme
BrightPay is exhibiting at Accountex Summit North & Accountex London 2018.
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