More than half (54%) of the UK’s largest employers have confirmed their providers for auto-enrolment, according to research by the Nest Corporation.
The research, which surveyed 707 pension decision makers at UK organisations, found that a further 34% of respondents have an idea of the provision they will implement and only 11% are still in the early stages of planning.
When choosing a provider, the majority of employers of all sizes consider the ease of day-to-day administration and clear communications to be factors that are very important or of the utmost importance.
The research also found:
- 55% of respondents with more than 1,000 employees expect to receive a lot of help from pension providers.
- 34% of respondents with more than 5,000 employees expect most support to come from their adviser.
- 97% of respondents are aware of the national employment savings trust (Nest) as an option to the pension reforms.
Tim Jones, chief executive at Nest Corporation, said: “These results suggest that many employers in the first year of staging are starting to get their plans in place, and awareness of Nest is high in this group.”
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