AE edges towards 10m; ‘urgent action’ needed for low paid and self-employed

The number of people who have been automatically enrolled into a pension scheme has increased to 9.96 million over November, according to The Pension Regulator’s latest figures.

In its declarations of compliance 2018 report published today, 11 December, the number of people auto-enrolled increased by 45,000 from September 2018, despite the number of employers declaring their stats increasing by over 36,000.

TPR added that some employers who have reached their staging date will not yet have completed their declaration, meaning that the number of people automatically enrolled is likely to be higher.

Despite this, the figures show that the amount of people who are not auto-enrolled has also increased, rising from 9.18 million to 9.24 million since September 2018.

Commenting on the compliance statistics, Royal London head of business development, Clare Moffat, said that “urgent action” needs to be taken.

“Today’s auto-enrolment compliance statistics show the number of employees auto-enrolled into a pension edging ever closer to the 10 million mark. This is great news but the stats also show there are a further 9.2 million workers within these companies who have not been enrolled into a pension.

“We need urgent action to bring groups such as the low paid, part time workers or the self-employed into auto-enrolment to ensure they are also given the opportunity to build a sustainable pension to see them through retirement.”

The number of people automatically re-enrolled was 591,000 at the end of November, a 14,000 increase on September 2018.

    Share Story:

Recent Stories


FREE E-NEWS SIGN UP

Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.


Helping the credit challenged get mortgage ready
A rising number of borrowers are finding it harder to access mortgages due to being credit challenged - whether that’s from historic debts, a county court judgment, or having little to no credit history.

In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.


Inside the world of high net worth lending
The mortgage market continues to evolve, and so too does the answer to the question: what is a high net worth individual in today’s market? In this episode of the Mortgage Insider podcast, host Phil Spencer is joined by Stephen Moroukian, Head of Product and Proposition for Real Estate Financing at Barclays Private Bank, and Islay Robinson, founder and CEO of Enness Global. Together, they explore what brokers really need to know when supporting high net worth individuals.

The future of the bridging industry and the Autumn Budget
MoneyAge content editor, Dan McGrath, is joined by head of marketing at Black & White Bridging, Matt Horton, to discuss the bridging industry, the impact of the Autumn Budget and what the future holds for the sector.