Automatic enrolment (AE) has been more successful than expected yet the industry cannot be complacent says the National Audit Office (NAO).
In its report, Automatic enrolment to workplace pensions, the NAO found low opt-out rates, and that the numbers of savers in workplace pensions and employers complying with regulation had beaten forecasts. However, NAO head Amyas Morse warned the main players in the sector could not rest on their laurels. He said: "The Department for Work and Pensions (DWP), The Pensions Regulator (TPR) and The National Employment Savings Trust (NEST) have worked closely together to introduce the automatic enrolment programme. "They all have a clear understanding of their roles and the programme h...
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