Auto enrolment is something that has been proposed for the pension sector, and the Chartered Institute of Personnel and Development, or CIPD, has stated that they do support it. The enrolment system has recently been introduced into larger companies and a recent survey that the CIPD conducted showed that most employees with big companies were aware of the changes that were taking place, and they were willing to accept them.
Unfortunately, the survey showed that at some companies, especially smaller ones, people weren’t really prepared for the changes, and were largely uninformed about them.
Less than 30 percent of employers were aware of the information about the change which was coming, and were not actually aware of when the new regulations were going to come into force in the company. The fact that the employers don’t know about them, also suggests that the employees are ignorant.
An adviser for CIPD, Charles Cotton, recently commented, “These changes to the pension system are the biggest shakeup that has taken place in the employment sector for a generation. Workplace pensions are very important, and it is essential that people are aware of how they work, and of the coming changes.”
Mr Cotton continued, “Employers are starting to become aware of the legal requirements that are being enforced in the sector. This is meaning they are looking for practical ways to introduce the changes that are coming. It is important that employers are aware that this is just one of the many changes that are going to be taking place in the workplace over the coming year. For this reason, it is very important for people to make themselves aware of the changes, and how they are going to happen in the future.”