The real test for auto-enrolment, which kicked off in 2012 is still to come, writes Adrian Boulding
On the face of it auto-enrolment looks like a storming success. The combined forces of the Department of Work & Pensions (DWP), The Pensions Regulator (TPR) and many pension providers and advisers have worked together in a highly effective manner to roll out auto-enrolment to large and medium-sized employers. By March 2015, according to the TPR's numbers, some 5.2 million workers were auto-enrolled. A total of 141,000 employers are going through their staging dates during this financial year to March 2016. Opt-out rates have been much lower than originally anticipated at about 10%....
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