Auto-enrolment will increase the proportion of workers in occupational schemes from one in two to four in five according to research from the Chartered Institute of Personnel and Development.
The organisation surveyed 2,000 employees and found more than 62% of those not currently in a workplace pension intend to stay in after being automatically enrolled. Its report, Labour Market Outlook: Focus on pension auto-enrolment, found that nine out of ten businesses are fully aware of the legislation and more than two thirds know their staging date. Half of the 1,000 employers surveyed said auto-enrolment will have no impact on their business model. Within the other half, two thirds of organisations said it would result in lower or no wage growth, 18% predicted a reduction in ...
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