Auto-enrolment passes key milestone
All the UK’s largest businesses have now passed their staging dates for automatically enrolling eligible workers into qualifying workplace pension schemes.
Announcing the landmark on 17 July, the Pensions Regulator, which regulates workplace pensions, said 99 per cent of the employers had met their legal duties without it needing to use its statutory powers.
Thousands of medium employers are currently reaching their staging dates – when their auto-enrolment duties go live – and the regulator has begun sending out letters to the first of the small employers, with fewer than 50 workers, who are due to automatically enrol their eligible workers next summer.
Charles Counsell, executive director for automatic enrolment at The Pensions Regulator said: “There is plenty of good news, with employers keen to ensure they do things properly and low opt-out rates.
“But we know there are challenges ahead. We will continue our work over the months ahead to ensure medium and small employers understand their obligations, comply with their legal duties and continue to view non-compliance by other employers as unacceptable.”