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07

More employers register for automatic enrolment

Open-access content Wednesday 31st July 2013 — updated 5.13pm, Wednesday 29th April 2020

Employers’ awareness of automatic enrolment for workplace pensions increased sharply during the spring, The Pensions Regulator has said.

31 JULY 2013 | THE ACTUARY TEAM

Its analysis of approaches made shows that from October 2012 to March 2013 only 83 employers completed registration, but this rose to 1,153 this month.

Awareness of the changes in the workplace pension law increased significantly among all sizes of employers, and the regulator's website received more than 320,000 unique visits to its automatic enrolment pages, mostly concerning staging dates.

The regulator's customer contact centre received almost 8,000 telephone calls, 5,000 emails, more than 2,000 web forms, letters and faxes and had 600 face-to-face meetings. 

Charles Counsell, executive director for automatic enrolment, said: 'In the last month we have announced that more than one million more people are saving into a workplace pension as a result of automatic enrolment.

'To date, more than a thousand employers have successfully completed the registration process.'

Implementation had gone well and the regulator's attention would now switch focus to organisations with less experience of pensions. 

This was because 'awareness and compliance among large employers is near universal and we want to see this mirrored among medium sized and smaller employers', Counsell said.

This article appeared in our July 2013 issue of The Actuary .
Click here to view this issue

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