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Our latest Blogs about Auto-Enrolment


The Pensions Dashboard is Coming!
The take-up of workplace pensions by employees since 2012 has been highly successful.  According to figures released from the Office for National Statistics (ONS) this month, total membership of occupational pension schemes in the UK rose to 33.5m in 2015, up 10% compared with 2014's 30.4m, and this figure will increase significantly again in the next two years as workplace pensions continue to be introduced.

The national average opt-out rate is around 10%, but our own experience at the Auto-Enrolment Bureau has certainly seen a much lower opt-out rate, which is good news because it means that employees in Gloucestershire are really listening to the important messages around pension saving. 

A knock-on effect of these success rates is that there will soon be a huge number of preserved pension pots sitting with pension providers as employees move from one job to another, and one pension scheme to another, and leave their pensions behind.  How will everyone keep track of their pensions?

There’s good news on two fronts.  First of all, the Treasury has confirmed that it’s working with 11 pension providers to release a prototype ‘Pensions Dashboard’ by March 2017, with a view to it going live in 2019.  The Pensions Dashboard will enable people to see all of their retirement savings in one place, collated on one database.  The three main Master Trusts have signed up, together with some of the big commercial providers.  The difficulty will lie in getting all providers to sign up to the dashboard, especially those with dated technology, but it sounds like a great idea in theory and the Government seems committed to seeing this through.

The second bit of good news is that the Government is considering the introduction of automatic transfers, or a ‘pot follows member’ system, to deal with the magnitude of small preserved pots that will be created by workplace pensions.  The idea is that once an employee has left a company and moved on to their new employer’s workplace pension, their old pension will be automatically transferred into the new employer’s scheme.  The details have yet to be confirmed, but I would hope that there would be an opportunity for the employee to block the transfer if they wanted to.  The introduction of this system has been put on the backburner until the roll out of workplace pensions is done and dusted, so some time after 2018.

If you would like to talk through your circumstances with an auto-enrolment expert, please give us a call on 0800 160 1233.  We’ve got lots of useful information and guidance on our website if you need it: http://www.aefasttrack.com/


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