Government papers: Automatic Enrolment Review 2017: Maintaining the Momentum
Key findings:
- More than nine million eligible employees have been automatically enrolled into a workplace pension.
- More than 900,000 employers have declared compliance with their automatic enrolment duties.
- Total annual pension contributions in 2016 reached £87 billion – a 10-year high.
- Since the introduction of auto-enrolment, two million fewer people are under-saving for retirement.
The report outlines several recommendations to maintain the momentum behind auto-enrolment. This includes the proposal to review the earnings trigger and qualifying earnings band for 2018/19.
