AE exceeding expectations but risks remain, says NAO

More enrolment little use if it doesn't lead to higher retirement incomes, body suggests

clock

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

New pensions minister: Advisers cautiously welcome 'radical thinker' Torsten Bell

New pensions minister: Advisers cautiously welcome 'radical thinker' Torsten Bell

Former CEO of Resolution Foundation takes over pensions minister brief

Jenna Brown and Isabel Baxter
clock 15 January 2025 • 7 min read
Retirement confidence: Why are women still lagging behind?

Retirement confidence: Why are women still lagging behind?

'If we don't do better, the gender pensions gap won't be closing any time soon'

Laura Barnes
clock 14 January 2025 • 4 min read
Administrators reach sale deal for PSG's Unity SIPP

Administrators reach sale deal for PSG's Unity SIPP

Scheme operated around 5,500 SIPPs

Jen Frost
clock 10 January 2025 • 2 min read