Gregory Campbell – 2014 Parliamentary Question to the Department for Work and Pensions

The below Parliamentary question was asked by Gregory Campbell on 2014-06-11.

To ask the Secretary of State for Work and Pensions, what progress is being made in ensuring that all eligible employees have been offered automatic enrolment into a workplace pension scheme with minimum employer contributions.

Mike Penning

So far automatic enrolment has been a stunning success. The latest information published by the Pensions Regulator on 12 June 2014 showed that more than 15,000 employers have completed the automatic enrolment process and 3.6 million eligible workers have been automatically enrolled into a workplace pension.

Around 99 per cent of employers who have completed registration have done so without the need for the Pensions Regulator to use their statutory powers. Employers have understood that providing a workplace pension and helping their workers plan for retirement is the now the norm.

Preliminary findings from the 2013 Employers’ Pension Provision survey show that around 90 per cent of automatically enrolled workers have remained members of a pension scheme.This early success has led the Government to revise down its opt out predictions. Instead of the anticipated 30 per cent opt out rate the Government now expects only 15 per cent of individuals will opt out once automatic enrolment is fully rolled out.