Workers in AE schemes increases by 24,000 in February

The number of workers automatically enrolled in workplace pension schemes increased by 24,000 in February, The Pensions Regulator’s (TPR) latest declaration of compliance report has revealed.

The increase brings the total number of auto-enrolled workers up to 10,027,000 after breaching the 10 million mark in January.

Furthermore, the number of employers declaring their statistics increased by 14,020, while the total number of workers employed at the companies declaring their statistics increased by 70,000.

TPR’s report also showed that, since auto-enrolment was introduced in October 2012, the number of workers auto-enrolled into a pension scheme has been steadily increasing.

Despite the increases, the amount of workers that are not automatically enrolled in a workplace scheme also rose, by 23,000 to almost 9.32 million.

Additionally, the auto-enrolment policy still have obstacles to overcome, as there have been calls from the industry to find a way to include self-employed workers in auto-enrolment, and more could be done to improve the engagement of members.

A recent survey from The Peoples Pension found that some savers remained unaware of some of the advantages that auto-enrolment schemes can offer, such as government tax relief.

The number of workers and employers involved in automatic enrolment workers schemes could be higher than reported due to the delay in declarations.

TPR commented: “While the information is the actual data received by us, there will be employers that have reached their staging date, who have automatically enrolled their eligible jobholders and who have not yet completed their declaration.”

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