Basic Search  |  Summaries  |  Advanced SearchPenalty: £20,000
Year: 2018
Date: 26 February, 2018
Offence Group: employment-related offences
Offence Type: benefit plan administrator violation
Violation Description: NOW Pensions Trustee Limited was the trustee for NOW Pensions Trust, a defined contribution pension scheme for employers to meet their automatic entrolment duties to their staff. After problems when moving administration provider and IT platform for the pensions scheme, TPR issued a penalty notice for £50,000 for failing to process core financial transactions promptly and accurately and a penalty notice for £20,000 for failing to report late payments of contributions.
Action Type: agency action
Agency: The Pensions Regulator
Source of Data: (click here)