Auto Enrolment: A winter of discontent
The auto-enrolment market could be set for a testing year but, says Tom Nall, workplace solutions director at SimplyBiz Group, that means opportunities for advisers
Four moments in 2015 may well bring a stark chill to the year ahead for those in the auto-enrolment market. The first was the discovery by The Pensions Regulator in July of half a million additional employers not accounted for in its original forecasting, bringing the total yet to stage for auto-enrolment to 1.8 million.
The regulator’s Commentary and analysis 2014 -2015 set out the new dynamics of the ‘auto-enrolment mountain’ and shed light on the small and micro-employer market yet to stage – around a third of these employers will have auto-enrolment duties but have no eligible jobholders; two thirds will have fewer than five employees, and half of these will have only one worker.