View more on these topics

Auto-enrolment hits 8 million mark


Auto-enrolment has passed the eight million mark, latest figures from The Pensions Regulator show.

After another 168,000 employees gained workplace pensions last month due to auto-enrolment, the total number to have been placed into saving now stands at 8,165,000.

Auto-enrolment began in 2012 with the largest companies staging first. 500,000 further employers are still set to complete the auto-enrolment process in the coming months.

The Government is currently engaged in a review of the scope of auto-enrolment, as well as how people are engaging with workplace pensions and what future contributions should be.

It has enlisted industry experts including Standard Life pensions strategy head Jamie Jenkins, The People’s Pension trustee director Ruston Smith and Pensions Policy Institute director Chris Curry  to chair advisory groups for the review.

New pensions and financial inclusion minister Guy Opperman says: “Reaching this eight million figure is a formidable achievement and represents a huge number of people on the path to a more financially secure retirement.

“But we cannot be complacent and as contribution rates rise we know there is more to be done. That’s why our automatic enrolment review, which will report back later this year, is so vital to the future of this life-changing policy.”


Retirement plan-pension-report

Govt to freeze auto-enrolment earnings trigger

The government is set to freeze the auto-enrolment earnings trigger at £10,000 next year as it confirms a review of the flagship pensions policy will include how to bring more self-employed people into retirement saving. The government estimates a £71m boost in pension savings from freezing the trigger, alongside increasing the lower earnings band from […]


Aviva’s 10-point plan to boost auto-enrolment

A major review of automatic enrolment will take place next year, marking the fifth anniversary of this pensions revolution. Some may argue the review is taking place too soon. Its date was set before the most recent timetable for enrolling small businesses and phasing contributions, so it will take place before the full outcome of […]

Paper mountain 010514.jpg

Where should advisers start on new client data rules?

Financial services firms now have under a year before the General Data Protection Regulation comes into effect. The GDPR will impact the way firms gather, store and manage the personal data they hold. With the potential for significant fines and reputational damage in cases of non-compliance, no firm can afford to ignore this significant piece […]

Industry under fire over pension freedoms

By Jamie Clark, Business Development Manager, Royal London Recent articles in the media have raised concerns about the new pension freedoms. One perceived problem is that across the industry, trustees and providers are not necessarily allowing people to take full advantage of the pension freedoms in situ. This is backed up by a recent survey by […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment