More than 4m workers have now been auto-enrolled into a workplace pension and now more than 21,000 employers have completed their “declaration of compliance”, according to official statistics published today (14 August).
Figures from The Pensions Regulator revealed that in the 12 months to the end of July, 4,032,000 eligible jobholders were auto-enrolled into an automatic enrolment and in that period 8,602,000 workers were already active members of a qualifying scheme on their firm’s staging date.
A further 423,000 have a defined benefit or ‘hybrid’ scheme.
Pensions minister Steve Webb said: “This latest milestone figure shows how saving in a workplace pension is now becoming the norm.
“4m people have now been automatically enrolled into a workplace pension with many more saving for their retirement for the first time or saving more as a result.”
The regulator has also urged all employers to find out when they need to be ready by inputting their PAYE information into the regulator’s website.
Charles Counsell, The Pensions Regulator’s executive director of automatic enrolment, said: “This summer, we have begun the process of writing to hundreds of thousands of small employers informing them when they need to be ready to meet their new workplace pension duties.
“This letter is a call to action for employers. It directs them to the information they need to prepare for automatic enrolment.”
