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10 Sep 2012

Over 18 Million Britons To Undergo Auto-Enrolment By End-2013

Automatic enrolment is to cover over 18 million employees in the UK by the end of 2013, according to the latest forecast of The Pensions Regulator (TPR) released last week.

The estimate includes employees that are already part of workplace pension schemes but whose employers are to process their eligibility for the reforms.

The number of workers to be enrolled by the end of 2012 is expected to be two million, as the staging dates for 100 big companies will be reached between October, when the reforms start, and the year-end. Another 16.15 million employees are to follow in 2013. The number of employees undergoing auto-enrolment is expected to be the highest next spring, when around 500 companies are due to begin the process for their workers. About one third of all scheduled enrolment is due in March and April next year.

A spokesman for TPR said every firm had been asked to compile the data but the figure could not be entirely accurate because employers have the possibility to change their staging dates. Initially, between one million and two million workers are expected to be enrolled every month, with the number declining over time, but the number of employers will increase. There will also be breaks during some months such as December 2013.

The figures include auto-enrolment rates for existing companies whose staging dates are scheduled between 2012 and 2017. A second round of auto-enrolment is expected to take place between May 2017 and February 2018, for new companies set up during the previous round.

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