Around 1.4 million (1,418,680) UK employers have completed their pensions auto-enrolment duties as at November 2018, according to research by The Pensions Regulator (TPR).
Its Declaration of compliance report: July 2012-end November 2018, which is based on information submitted by employers when they complete their declaration of compliance documentation, also found that just under 10 million (9,958,000) employees are saving for their retirement after being automatically enrolled into a workplace pension since 2012.
Between September 2015 and November 2018, 73,643 employers confirmed they have completed their pensions automatic re-enrolment duties to remain compliant. This means that 591,000 eligible employees have been successfully re-enrolled into their workplace pension over this period.
Clare Moffat, head of business development at Royal London, said: “[The] auto-enrolment compliance statistics show the number of employees auto-enrolled into a pension edging ever closer to the 10 million mark. This is great news, but the stats also show there are a further 9.2 million [employees] within these [organisations] who have not been enrolled into a pension.
“We need urgent action to bring groups such as the low paid, part-time [employees] or the self-employed into auto-enrolment to ensure they are also given the opportunity to build a sustainable pension to see them through retirement.”