The government continues to advocate for the importance of pension saving which offers greater financial resilience in later life. Automatic Enrolment (AE) has transformed pension participation rates, with 86% of eligible private sector employees saving into a workplace pension in 2021, up from 42% in 2012.<\/p>
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AE was deliberately designed with an opt-out to give people choice, enabling them to decide if saving for a pension is right for them given their circumstances and affordability.<\/p>
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This is why when an individual makes the decision to pause or cease contributions, the AE framework requires their employer to re-assess and re-enol their eligible employees every three years, which prevents individuals from falling out of pension saving in the medium to long term.<\/p>
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The re-enrolment regime has been successful, seeing 1 million eligible job holders automatically re-enrolled since the introduction of AE in 2012.<\/p>
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