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AE policy adds pensions for 10 Million

The Department for Work and Pensions has hit its target of bringing 10 million workers into occupational pensions, a year ahead of schedule. To give that figure a sense of perspective, 10 million is pretty much the entire population of Sweden. The final stages of the programme’s roll out concluded last year, with contributions to an individual’s pension pot rising to 5%. April 2019 will see that contribution rise further to 8%, including a 5% minimum employee contribution. Auto-enrolment began in 2012 when the proportion of private sector workers opted into a pension was at a low of 42%. That Read More