Over 1.4 million employers in the UK have now completed their auto-enrolment (AE) duties, according to the latest Declaration of Compliance report from The Pensions Regulator (TPR).
The figures also show that more than 10 million employees have been auto-enrolled into a workplace pension since AE was first rolled out in 2012.
Between September 2015 and January 2019, 89,149 employers confirmed completion of re-enrolment (which is required every three years). This means 603,000 eligible employees were successfully re-enrolled into their workplace pension over the period.
Lesley Titcomb, chief executive officer at TPR, said: “We have worked with employers of all sizes to ensure automatic enrolment is a success and we are delighted that 10 million people are newly saving or saving more towards their retirement.
“The vast majority of employers continue to support automatic enrolment. They’ve played a vital role in creating a savings culture by enrolling employees so that they can now expect a pension as part and parcel of their employment.”
Darren Ryder, TPR's director of auto-enrolment, said: "Reaching the incredible milestone of 10 million people newly saving or saving more into a pension is like reaching the summit of a mountain.
"Ten million people – equal to the population of Sweden – are now taking the right steps towards being comfortable in retirement. Working with government, we’ve changed the savings culture."
