Thousands of small companies have been fined for failing to enrol staff in a workplace pension as firms struggle to deal with the most significant overhaul to retirement savings in generations.
According to The Times, an increase in enforcement action by the pensions regulator resulted in more than 3,700 businesses being issued with penalties between July and September, compared with 861 in the previous three months.
RBS
Unlike other major banks which this week announced extra provisions for the mis-selling of payment protection insurance, RBS said today it has not set aside any extra cash. It did, however, report an attributable loss of £469 million for the third quarter. That loss reflects charges related to reorganising the business, and litigation and conduct costs.
Current accounts
A third of banking customers are throwing away the incentives handed out for switching accounts on expensive overdraft fees, according to research by Co-operative Bank.
Thisismoney reports that while banks are offering cash incentives currently worth up to £220 in the first year, account holders who stray into the red fork out an average £6.93
Comments
Join the debate for just $5 for 3 months
Be part of the conversation with other Spectator readers by getting your first three months for $5.
UNLOCK ACCESS Just $5 for 3 monthsAlready a subscriber? Log in