The Government is predicting 600,000 more people will be saving into a workplace pension by the end of the year as a result of the introduction of auto-enrolment.
Firms with over 120,000 employees will have to pay into a workplace pension for all eligible staff who do not opt out from next month, with the phasing in of the scheme continuing until 2018. Figures released by the Department for Work and Pensions (DWP) suggest about 4.3 million more people will be saving for their retirement by May 2015, with 600,000 of these coming by the end of this year. Steve Webb, minister for pensions, said: "Few policies affect as many people and this will be a truly radical social change. "All the international evidence shows people respond positively to ...
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