A GREENOCK company has been hit with a fine of more than £50,000 for failing to abide by pension requirements for its employees - the highest financial penalty of its type imposed in the UK this year. 

Data released by The Pensions Regulator (TPR) revealed that Claymore Contracting Company Limited, registered at 67 West Blackhall Street, has been ordered to pay £52,500 for breaching auto-enrolment pension regulations. 

Bosses at TPR named companies across the UK who have failed to meet their pension duties for the first half of 2023. 

The Inverclyde employer was one of three companies named in the 'unpaid escalating penalty notice subject to a court order' section of its most recent bulletin, which is a public document.

Information on Companies House shows that Claymore Contracting Company Limited was set up in 2021 and provides temporary employment agency activities. 

The last activity on Companies House was a confirmation statement in March this year. 

A spokesperson for TPR confirmed that breaches typically include employers failing to enrol eligible staff in a pension scheme or to pay contributions into a scheme on their staff’s behalf within a prescribed period, which in some cases can include money the employer has already deducted from staff salaries. 

Joe Turner, head of compliance and enforcement at TPR said the fines send a clear message to employers. 

He added: “While the great majority of employers are doing the right thing for their staff, the fines we have issued in Glasgow city region this year send a clear warning to those that fail their employees: We will fine you.

"Where necessary, we will also use our powers to prosecute. 

"Our enforcement action has led to more than £500 million in unpaid pension contributions being collected from employers nationally since 2012." 

The Telegraph contacted Claymore for comment.

In a statement the company said: "We have done nothing wrong and have proof of correspondence with the Pensions Regulator which exonerates us."