Regulator warns over advisers’ pension blindspots

Almost 70 per cent of IFAs have already helped clients deal with the challenges of auto-enrolment, The Pensions Regulator had claimed.

The survey showed high rates of awareness among advisers and other parties involved in implementing auto-enrolment.

However, results also pointed to several areas where intermediaries’ knowledge is still vague.

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These include the types of earnings to be assessed; what a pay reference period is; the duty to enrol workers who opt in during the postponement period; and precisely which types of workers are eligible for automatic enrolment.

Charles Counsell, executive director of automatic enrolment at The Pensions Regulator, said: “Many advisers have risen to the challenge - as well as the opportunity - presented by the roll out of automatic enrolment.

“There are still gaps in knowledge. We will be highlighting our role over the coming months to advisers ensuring they are aware of the information and help that is available to them.

“We also need to ensure advisers and employers know that [The Pensions Regulator] is not just a source of information but also the body that all employers need to submit their automatic enrolment details to in order to be compliant.”