NAPF welcomes news that 4m now automatically enrolled | Pensions and Lifetime Savings Association

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NAPF welcomes news that 4m now automatically enrolled

14 August 2014

Responding to figures published today (Thursday) by The Pensions Regulator, Joanne Segars, Chief Executive of the National Association of Pension Funds (NAPF), commented:

“Figures revealed today that more than four million workers have now been successfully automatically enrolled into a workplace pension is excellent news for UK savers. Pension schemes and employers have put huge amounts of work into setting up and enrolling workers into millions of pension accounts.

“Workplace pension schemes have always provided one of the very best ways to save for retirement, and automatic enrolment offers the greatest chance of getting people into the habit of saving for their retirement.

“Millions of UK workers can now look forward to a more comfortable retirement, with money to top up their state pension.”

Segars added:

NAPF research has shown that understanding the Government’s rules for automatic enrolment can be daunting for employers. Whether you have one employee or a few hundred, you need to find out what you have to do, where to go for more information and when you need to ask for specialist advice. “The NAPF’s aim is to bridge any gap employers – especially smaller firms – may have between understanding the technical requirments of automatic enrolment and what providers of pensions will offer.

“There are plenty of sources of guidance, including made simple guides and short videos, available free of charge on the NAPF website for any employer looking for further information.”

ENDS

 

Notes to editors:

The NAPF is the voice of workplace pensions in the UK. We speak for over 1,300 pension schemes that provide pensions for over 17 million people and have more than £900 billion of assets. We also have 400 members from businesses supporting the pensions sector.

We aim to help everyone get more out of their retirement savings. To do this we promote policies that add value for savers, challenge regulation where it adds more cost than benefit and spread best practice among our members.

Contacts:

Lucy Grubb, Head of Media and PR, NAPF, 020 7601 1726 or 07713 073023, [email protected]

Eleanor Bennett, Press Officer, NAPF, 020 7601 1718 or 07825 171 446, [email protected]