No need to delay auto-enrolment

Ian Naismith, head of pensions market development for Scottish Widows, said he recognised the concerns, but warned the only possible change could be to the phase in dates for smaller firms.

He said: “I have seen speculation but I would be surprised if the start date went back. What could happen is the government could change the phasing. I would be surprised if it did.

“The Department for Work and Pensions may recognise it would be a good thing for small businesses to push it back. I am not sure that will happen, especially now the National Employment Savings Trust has been rolled out.”

Mr Naismith said the reforms, introduced from October 2012, would be good for female attitudes to saving. He said: “We are pretty positive about auto enrolment. Our research shows a lot of the issues with women and saving are around confidence.

“They do not have confidence in their own abilities. Auto enrolment takes away a lot of that concern as their employer is paying in and also there will be a default investment option, so if they do nothing, they are still doing something.”

It comes as Scottish Widows launched its 2011 Women and Pensions Report.

Government ministers have spent the past week defending the plans and insisting the timetable was not changing.

Iain Duncan Smith, work and pensions secretary, said: “Auto-enrolment is good for the country, good for people who save and, ultimately, good for growth because it puts the economy on a firm footing, based on savings.

“I stand here categorically prepared to take on anybody on that basis, and I will continue to do so, as will the Pensions Minister and, indeed, all of us.”