Claire Carey comments on building on auto-enrolment
October 2017 marks the fifth anniversary of auto-enrolment. Stephanie Hawthorne assesses its progress so far and looks at areas for future improvement.
October 2017 marks the fifth anniversary of the start of one of the biggest financial projects this country has ever seen – auto-enrolment (AE).
Based on the science of ‘nudging’ – people do the right thing if you make it easy for them – AE has been a rare pensions success story. Here employees are automatically enrolled in a pension scheme and have to take positive action to leave or ‘opt out’, with opt-outs averaging at around 10%.
Read the full article in Professional Pensions.