Auto Enrolment is part of a Government initiative to increase private retirement savings.
This is as a result of the fact that a large number of the working population in the UK are not saving adequately for retirement or taking advantage of private pension schemes.
This, coupled with the reality that we are living longer and have an increasing proportion of individuals of retirement age compared to those of a working age, has led to the changes to pension law.
Auto Enrolment involves employers having to auto enrol, by law, all eligible employees into a qualifying pension scheme. It will have significant implications for employers off all sizes.