Swindon Town Football club has been fined over £20,000 after it repeatedly failed to meet new obligations to set up pensions for staff. The famous football club was fined £22,900 by the Pensions Regulator for not putting eligible employees into a pension scheme, paying contributions or writing to staff to explain how Automatic Enrolment affected them. Over 110,103 employers in the UK now have the schemes, the Pensions Regulator said. It has powers to fine firms which fail to comply with rules, with the penalty depending on the size of the business and number of eligible staff.
Charles Counsell, executive director of Automatic Enrolment at the Pensions Regulator, said: “This case illustrates what can happen when an employer buries their head in the sand and disregards their duties. If things aren’t going well, then talk to us; don’t ignore us. Failing to comply on time will not save you money. Not only do you risk a fine, you will also have to make back dated contributions.”
The football club is now up to date with the contributions and has enrolled all eligible staff. A statement from Swindon Town Football club said: “It is unfortunate that the club has been fined by the Pensions Regulator. “The fine related to the period when the ownership of the club was being contested by the former Chairman and is yet another painful example of the severe adverse consequences that the uncertainty and instability caused in regularising the business affairs of the club.” Source: The Telegraph