answer text |
<p>Automatic enrolment has reversed the decline in workplace pension saving. Latest
figures show that more than 9.9 million people have been automatically enrolled; with
participation amongst eligible women in the private sector increasing, from 40 per
cent in 2012 to 80 per cent in 2017, to equal the rate for men. By 2019/20 an extra
£20 billion a year is estimated to go into workplace pensions as a result of these
reforms.</p><p> </p><p>Automatic enrolment requires the sponsoring employer to put
in place a qualifying workplace pension scheme for their affected workers. The Pensions
Regulator provides guidance to employers on choosing a pension scheme for their staff
in order to discharge their statutory obligations under automatic enrolment. This
guidance covers the choice between net pay and relief at source schemes, and the implications
of net pay schemes for employees who do not pay tax.</p><p> </p><p>Government does
not collect data about whether net pay arrangements or relief at source pension schemes
are used by employers to comply with their automatic enrolment duties.</p><p> </p>
|
|