The Pensions Regulator has published new research which tracks awareness of auto enrolment amongst employers and intermediaries and how they are preparing to act.
The Key Findings from the Intermediaries survey were:
- There was almost universal awareness of auto enrolment amongst all types of intermediaries (between 97% & 98%), with bookkeepers similarly high (94%).
- Payroll administrators reported a significant increase in their ability to answer clients questions, with 54% (up from 33%) believing they are fully able to answer all queries.
- There are increasing proportions of intermediaries planning to act on behalf of their clients, as opposed to taking more passive roles of providing information or technical advice (payroll administrators 71%, IFAs 53%, accountants 44% and bookkeepers 42%)
- The vast majority (96% or more) of accountants, bookkeepers and payroll administrators planned to provide a service to micro employers, while most IFAs did (78%).
The Key Findings from the Employer Survey were:
- Nine in 10 employers staging between August and November 2015 had commenced for automatic enrolment.
- 7 – 10 small employers expected to rely on an adviser to provide practical assistance with automatic enrolment.
- Most (79%) employers staging in 2015 knew their staging date. A lower proportion (29%) of employers staging between January – November 2016 knew their staging date, similar to the (30%) of employers staging between January - April 2017 who knew their staging date.
- Awareness of automatic enrolment increased significantly amongst both small and micro employers.