Auto-enrolment's first five years have undeniably been a success, says Adrian Boulding, but now its momentum must be maintained and its reach extended to bring even more people into the safety long-term savings provide.
This month has seen the publication of the 56-page Automatic Enrolment Evaluation Report 2016, published by the Department of Work & Pensions (DWP). It offers an at times glowing review of the continued success of auto-enrolment as low opt-out rates continue to exceed expectations and scheme coffers gently swell. To date, 6.87 million workers employed in 293,868 firms have auto-enrolled - up 1.77 million in the last 18 months. Such is auto-enrolment's success that three-quarters of eligible workers now have pension provision. That means £81.8bn is now held in all public and private sect...
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