Today marks a year since workers began being placed onto pension schemes under the government's automatic enrolment programme, and wiith the number of people choosing to 'opt out' of a savings scheme much lower than anticipated, analysts have tentatively classed the first 12 months as a success.
But with thousands of smaller and medium-sized companies set to auto-enrol in the next year, the challenge will get much harder. The Daily Mail has asked industry experts to comment on the programme so far, and what can be expected in the next year. Malcolm McLean, pensions consultant at Barnett Waddingham Most commentators were predicting a level of opt-outs well in excess of 30 per cent, whereas if we believe DWP figures, at the end of year one they represent less than 10 per cent of auto-enrolled employees to date. But the figures must be treated with some degree of caution, ...
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