This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Many people are under-saving for retirement, after data revealed that nearly 4.5 million people were not enrolled in a workplace pension scheme.
Figures from the Pensions Regulator show that while four million workers are now in an automatic workplace pension plan, with compliance by more than 21,000 employers, there are still 4,443,000 workers who have not been enrolled.
The regulator revealed that 4,032,000 eligible jobholders have been automatically enrolled, 8.6 million workers were already members of a qualifying scheme and 423,000 eligible jobholders have had the defined benefit or hybrid scheme transitional arrangement applied to them.
The figures are also missing the nearly 4.5 million self-employed in the UK who don’t enjoy the benefits of auto-enrolment.
For further information on workplace pension schemes, email Julie Bruce at j.bruce@endeavour.law
Disclaimer
This article is © Endeavour Partnership LLP 2014 and may not be reproduced without our express permission.
This article is a general summary and should not be relied upon in the place of seeking professional advice in respect of any specific situation.
No responsibility can be accepted for any actions based on the information in this article.
Share this post: