{"id":46373,"date":"2014-08-14T09:02:00","date_gmt":"2014-08-14T09:02:00","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=313f60831e21154b42016942bcdb663b"},"modified":"2014-08-14T09:02:00","modified_gmt":"2014-08-14T09:02:00","slug":"press-release-10000-jumbo-jets-fly-towards-better-retirement-with-automatic-enrolment","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=46373","title":{"rendered":"Press release: 10,000 jumbo jets fly towards better retirement with automatic enrolment"},"content":{"rendered":"
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This is the equivalent of enough people to fill 10,000 jumbo jets. <\/p>\n

Automatic enrolment began in October 2012, requiring all businesses to enrol eligible staff into a workplace pension and start paying contributions, beginning with the largest employers first. <\/p>\n

The next stage of automatic enrolment will see small firms begin to enrol their workers into workplace pensions, with all employers due to be included in the scheme by 2018.<\/p>\n

The government\u2019s action to introduce automatic enrolment into workplace pensions was in response to the problem of millions of people in Britain not saving enough for retirement.<\/p>\n

Pensions Minister Steve Webb said: <\/p>\n

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Automatic enrolment is a tremendous success with 4 million people now automatically enrolled into workplace pensions \u2013 enough to fill 10,000 jumbo jets.<\/p>\n

This policy is helping build a fairer society as millions of workers who didn\u2019t have the chance to save in a workplace pension before are now on track for a more comfortable retirement.<\/p>\n

And while people have the choice to opt out of workplace pension saving the overwhelming majority are staying in, ensuring a better future for themselves and helping reverse the savings slump in Britain.<\/p>\n<\/blockquote>\n

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Charles Counsell, Executive Director of automatic enrolment at The Pensions Regulator said: <\/p>\n

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A seaside hotel, a scrapyard, hi-tech factories, colleges, care providers, hairdressers and a designer all featured amongst the wide range of employers completing their duties this month.<\/p>\n

It is a mix which illustrates just how automatic enrolment is gradually becoming part of the fabric of running every type of workplace.<\/p>\n<\/blockquote>\n

DWP<\/abbr> analysis this month found 11.9 million people in the UK are undersaving for retirement. <\/p>\n

The key factors leading to the prospect of a poor retirement income included:<\/p>\n