Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

“Great strides forward” in workplace pension enrolment

Post Thumbnail

More than seven million people have been put into a workplace pension by their employer due to a landmark retirement savings drive, figures show.

The Pensions Regulator (TPR) said 7,050,000 eligible people have now been placed into automatic enrolment.

Eventually, around 10 million people are expected to be newly saving or saving more by 2018, generating around £17billion a year more in workplace pension saving by 2019/20.

Automatic enrolment was launched in 2012, starting with the biggest employers which tend to have more experience of pensions and it is now being rolled out among  small employers.

Pensions Minister Richard Harrington said:  “We have made great strides forward by automatically enrolling seven million people into a workplace pension – now the challenge is to  make sure that everyone can benefit from a financially secure retirement, including those working for the smallest employers.

“Next year more than 700,000 small employers will see their workplace pensions duties start and my message to them is clear: don’t be daunted, there is help and support out there. Setting up a pension scheme can seem complex, but the Pensions Regulator has a simple step-by-step guide available to help.”

Charles Counsell, TPR’s executive director of automatic enrolment, said: “Over the next year the numbers of employers needing to act will rise again sharply.

“We have already written to them about what they have to do and we encourage them to look out for letters from the Pensions Regulator and not leave their preparations until too late.”

On Monday, the Government announced a review of automatic enrolment, to consider its success to date and explore ways that the policy can be further developed.

The 2017 review will also examine the automatic enrolment thresholds for triggering saving and the age criteria for when people will start to be automatically enrolled.

Already a subscriber? Sign in