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<p>Automatic Enrolment into workplace pensions is working. It has transformed pension
saving for millions of today’s workers. It has reversed the decline in workplace pension
saving seen in the decade prior to its introduction. Since automatic enrolment started
in 2012, workplace participation has increased among eligible employees from a low
of 55 per cent in 2012 to 87 per cent in 2018. The Government has put in place a robust,
proportionate compliance framework. This is administered by The Pensions Regulator,
and includes detailed regulatory guidance about how to comply with the law. An employer
is required to select a qualifying pension scheme; enrol qualifying staff into that
scheme, and deduct any contributions payable under Automatic Enrolment.</p><p> </p><p>The
Pensions Regulator’s priorities are contained in their corporate plan 2019-22 and
include; providing clarity, enforcing the high standards of trusteeship, governance
and administration they expect.</p><p> </p><p>Qualifying pension schemes for Automatic
Enrolment are subject to the regulatory framework overseen by The Pensions Regulator
in respect of payment and accuracy of contributions. The Regulator has published codes
of practice on its website setting out how trustees of defined contribution pension
schemes and managers of personal pension schemes should monitor the payment of contributions;
provide information to help members check their contributions; and report material
payment failures to the Regulator.</p><p> </p><p>The regulatory regime is designed
so that errors can be identified and material failures can be reported, the Regulator
can then require restitution; and, where necessary, make use of its enforcement powers.
The Government keeps all aspects of automatic enrolment under regular review but has
no plans to make changes to the compliance framework at this time.</p>
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