19 May 2016
Companies fined £2,500 a day for pensions failings
Companies who fail to meet the auto enrolment duties face an initial £400 fixed penalty and the possibility of further escalating fines if they continue to fail to comply. By December last year, more than 1,500 fixed penalty fines had been issued, and this will only increase as the remaining 95% of companies reach their staging dates.
Recently, a professional football club was fined more than £20,000 for repeatedly failing to comply with its workplace pension duties, in what experts warned may be the first of many significant penalties for smaller companies.
They had failed to auto enrol eligible workers into a pension scheme in time for its auto enrolment staging date, neglected to pay employees’ pension contributions and did not write to staff explaining how auto enrolment affected them.
BPIF members have the perfect solution to this issue through Meridan, advisers to the Printing Industry Pension Scheme (PIPS). Meridan will ensure you comply with the auto enrolment legislation and you and your employees will have the comfort of knowing that they will be enrolled into an existing substantial fund overseen by both the BPIF and Unite.
For further details please contact Meridan on 0800 132100, or Steve Walker at the BPIF on 01676 526050.
Pay Review Data, Wage Benchmarking and Cost of Living – FEB 2024 UPDATE
14 February 2024
We have collated data from multiple sources that should be useful for BPIF members that are approaching internal pay reviews, and/or are having a closer look at their pay and benefits structure. The datafile, first published in February 2023, has been updated with the latest available data - and additional content on factors exerting pressure on pay settlements in 2024.
Slight recovery of output and orders falls short of expectations in Q4 - confidence concerns mount in 2024
22 February 2024
Performance in the UK's printing and printed packaging industry did improve in Q4, as far as output and orders are concerned. However, it didn't come close to what would historically be considered the seasonal norm, nor quite match the subdued expectations for Q4.
The BPIF is the printing industries champion. By becoming a member you join a diverse and influential community. We help you solve business problems, connect you to new customers and suppliers and make your voice heard in government.
Call 01676 526030