For immediate release: Friday 14 October 2016
Commenting on The Department for Work & Pensions (DWP) quarterly update of analysis on auto enrolment 2016 published yesterday, Morten Nilsson CEO, NOW: Pensions said: “While auto enrolment is working for many, it’s not working for all.
The DWP’s latest analysis highlights that nearly one in five (19%) workers aren’t eligible for auto enrolment because they are not earning £10,000 a year.
Within this group is a disproportionate number of women, black and minority ethnic workers and workers with a disability.
In theory these people could ask their employer to put them in the scheme, but in our experience they very rarely do. They need to be automatically enrolled.
This reinforces the importance of examining the auto enrolment trigger as part of the 2017 auto enrolment review as at the moment too many workers, for whom auto enrolment was intended, are being excluded.”
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Notes to editors
NOW: Pensions www.nowpensions.com @nowpensions
NOW: Pensions is one of the UK’s largest workplace pension providers with over a million members and tens of thousands of employers from a wide range of sectors. A subsidiary of one of Europe’s largest pension funds, Danish pension scheme ATP, NOW: Pensions entered the UK market in 2011 with a simple and cost effective workplace pension designed specifically with the auto enrolment market in mind.
NOW: Pensions was one of the first providers to achieve independent assurance of scheme quality in accordance with the master trust assurance framework (AAF02/07) introduced by The Pensions Regulator in conjunction with the Institute of Chartered Accountants in England and Wales (ICAEW).