Auto-enrolment signs up 2.8m
Nearly three million employees have been auto-enrolled into pension schemes in the year and a half to the end of January, according to the Pensions Regulator. Tom McPhail, head of pensions research at Hargreaves Lansdown called the figures “a good start”, but added that most people are not contributing enough. “Even in another four years’ time when they are up to the minimum of eight per cent of earnings, it still won’t be enough to provide a reasonable income in retirement.”