| Overdue payment of contributions. | Employer and / or Scheme Member/ MAT contributions. | Interest calculated at base rate plus 1% as per the 2013 LGPS regulations, calc based on total late contribution amount. |
| Repeated late or inaccurate submission of contribution data. | Employer and / or Scheme Member/ MAT contributions. | Administration fees will be applied proportionally to the time spent addressing the issue: £70 per hour of additional work. |
| Overdue YE return. | Returns received after 30 April after the appropriate year end. | £500 per occasion plus £100 per month or part thereof. |
| Disproportionate work. | Data submissions or actions that result in a disproportionate amount of work to the fund. | £70 per hour of additional work. |
| Cost Recovery | When an employer’s actions, decisions, or failures cause the Fund to incur extra costs, such as legal, actuarial, or professional fees. The Fund may recover these costs from the employer. Examples: bulk transfers, forfeitures, restructuring, or non-compliance. | Employers will be notified in advance where possible and given a breakdown of charges. This ensures such costs aren’t unfairly passed on to the wider Fund membership. |
