Commenting on new figures released today from The Pensions Regulator on its use of automatic enrolment enforcement powers, Jamie Jenkins, Royal London’s Director of Policy and External Affairs, said:
“Despite the increase in enforcement measures, automatic enrolment has actually held up really well during what has been an extraordinarily challenging period for employers. The decision to include pension contributions in the furlough scheme was a crucial one, and has definitely played its part in averting a drop off in saving that could so easily have occurred.
“It’s right to remind employers of their pensions duties, but most of them should be commended for their work in fulfilling them during the pandemic.”
About Royal London
Royal London is the largest mutual life insurance, pensions and investment company in the UK, with assets under management of £153 billion, 8.8 million policies in force and 4,075 employees. Figures quoted are as at 30 June 2021.