Section 28I — Pensions Act 2008: Penalties

Penalties 28I 1 Regulations may make provision about the imposition by the Regulatory Authority of a penalty on the trustees or managers of a relevant Master Trust or the provider of a group personal pension scheme where the scheme—

a fails to meet the condition in section 20(1A) by virtue of not being approved under section 28A or 28C, and b accepts contributions from an employer in relation to a jobholder on the basis that it is an automatic enrolment scheme in relation to that jobholder.

2 Regulations may make provision about the imposition by the Regulatory Authority of a penalty on the provider of a group personal pension scheme where the scheme—

a fails to meet the condition in section 26(7A) or (7B),

and b accepts contributions from an employer in relation to a jobholder on the basis that it is an automatic enrolment scheme in relation to that jobholder.

3 The regulations must provide—

a that a penalty must not exceed £100,000 in relation to each employer from which contributions are accepted as mentioned in subsection (1)(b) or (2)(b),

and b that there is a right of appeal against the imposition of the penalty.