Auto-enrolment  

Warning as problems found in half of AE contribution data

The government and the regulator have been formulating these new rules since 2016, which are expected to drive consolidation in the market.

FTAdviser reported last week that 24 workplace pension schemes have informed TPR of their intention of winding up.

Schemes will have six months to apply to TPR to continue to operate in the market and of the current 89 schemes in the market, 40 to 45 are expected to submit a formal application by October.

Kay Ingram, director of public policy at national advice firm LEBC, said that employers should use a auto-enrolment compliance service, which the firm also offers, to "avoid the headache of sorting out problems later".

She said: "After all employers need to concentrate on running their business, auto-enrolment compliance lets them do that while we take care of the running of their scheme."

maria.espadinha@ft.com