Help Centre for Employers

Why do we need auto enrolment?

The government estimates that around seven million people are not saving nearly enough for retirement, with many people not saving at all!

With life expectancy increasing, people will live longer in retirement and therefore the size of their pension fund needs to be larger to sustain this.

The maximum basic State Pension for individuals retiring in the 2016/17 tax year is just £155.65* per week, the actual amount depends an individual’s NI contributions and normally at least 10 ‘qualifying years’ National Insurance are needed to get any State Pension at all. For most people without additional retirement savings, this may not be sufficient to make ends meet. It should also be considered that the government may not be able to afford to keep State Pensions at their current level in the long term.

Therefore, auto enrolment has been created in everyone’s best interest to preserve our financial future.

* From 06/04/2016 the maximum payable to all people already in receipt of the existing state pension rises from £115.95 to £119.30 per week. All people reaching state pension age after 06/04/2016 are subject to the new flat rate state pension regime and the maximum payable is £155.65 per week.
NOW: Pensions is supportive, easy for our employees to understand and uncomplicated in terms of its implementation. Its structured approach removes the complicated investment choices & makes auto-enrolment a straightforward and simple process. — Mark Manaton, Managing Director, Blue Arrow Group
…We pride ourselves on our abilities to make the perfect match for both clients and workers. Our decision to appoint NOW: Pensions came as a result of wanting a quality workplace pension scheme that is structured, simple and easy for us to… — Ian Naylor, Legal Director of Randstad
I'm excited by the opportunity to help bring to the UK auto-enrolment market NOW: Pensions, a customer-friendly and responsive trust-based alternative to NEST and to contract-based offerings. — Chris Daykin, the former Government Actuary
We decided to appoint NOW: Pensions because of the simplicity and robustness of its scheme. The NOW: Pensions product is both cost effective and straightforward to implement... — Mark Roberts, Managing Director at gap personnel
Over a short period of time, NOW: Pensions has established itself as a respected and credible player in the UK workplace pensions market attracting thousands of employers and hundreds of thousands of members. Joining the team at such a crucial time… — Jocelyn Blackwell, Founder of Dunnett Shaw and Raising Standards in Pensions Administration