£40,000 Pension Penalty

The Pensions Regulator has recovered £40,000 in civil penalties from Johnsons Shoes Company after it failed to provide a declaration of compliance.

The Company eventually complied and paid a fixed £400 penalty. However, it refused to pay the escalating penalty which increased by £2500 per day, eventually reaching £40,000.

The Company voluntarily paid the penalty but not until the Regulator had issued proceedings in the County Court which meant that the Company had to pay a further £2,000 in court fees.

The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.
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