Sainsbury's sticks with L&G for auto-enrolment

The supermarket giant is one of the four largest employers in the UK with a staging date set for 1 October, alongside its competitors Morrison's, Tesco and Asda. The company's 126,000-strong workforce will be auto-enrolled into the Sainsbury's Retirement Savings Plan and the Sainsbury's Self Invested Pension Plan, both run by L&G. Staff will enter the scheme with a contribution rate of 1% of pensionable pay matched by a 1% contribution from the supermarket to meet the legislative requirements. The company will also offer to match contributions at 4%, 5% and 6%. A Sainsbury's spo...