One in four micro employers know their staging date, compared with half of small employers and four out of five mediums The vast majority of intermediaries are aware of automatic enrolment Most intermediaries understand the automatic enrolment duties and have higher levels of detailed knowledge than in spring 2013. A significant number of payroll administrators and accountants are more aware and knowledgeable than a year ago, although some gaps in knowledge still remain While most IFAs, accountants and payroll administrators are planning to, or are already helping their clients, bookkeepers and HR professionals are less involved Awareness of The Pensions Regulator is high among most adviser groups although again, bookkeepers and HR professionals are less aware Almost all accountants plan to be involved with automatic enrolment and also think their clients will rely on them for help and advice, a third however only expect to make their clients aware. Six different intermediary types were included in the survey. Interviews were conducted with those groups providing or planning to provide advice to external organisations about the automatic enrolment process, namely Independent Financial Advisors (IFAs), Human Resources (HR) professionals, payroll administrators, accountants and bookkeepers. Pension scheme trustees were also included. This report summarises the results from the survey conducted in Autumn 2013, highlighting differences by intermediary type, and referring to the previous survey waves where comparisons are relevant. The report also makes occasional reference to the regulator’s Autumn 2013 report ‘Employers’ awareness, understanding and activity relating to workplace pension reforms’. financial advisers: Independent Financial Advisers (IFAs), who generally deal with small and medium employers, with between five and 249 employees; business advisers, who generally provide employers with a range of business services, including automatic enrolment (payroll administrators and HR professionals who generally deal with all sizes of employers and accountants and bookkeepers, who provide services mainly to micro/small employers); pensions trustees, who are generally dealing with medium/larger employers, ie, those with 50 or more employees. The report groups the different audiences into three different intermediary types, as follows. The report provides the research findings for each of these in separate sections.
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Intermediaries’ awareness, understanding and activity in relation to automatic enrolment
Ceridian finds overall opt-out rates only 5.4%
28 March 2014
Detailed analysis by Ceridian, one of the UK’s leading HCM technology and service providers, of 244,061 auto enrolment records across 77 organisations reveals overall opt-out rates of only 5.4 per cent with opt-out rates among the young the lowest. Melissa Goddard, director of pension solutions, at Ceridian UK said: “The overall opt-out rates across a large and representative sample of organisations have shown opt-out rates lower that most quoted averages. Furthermore, there is little difference in opt-out rates between any age groups up to 50. These average around four per cent but then rise to seven
CIPP Policy News Journal
16/04/2014, Page 412 of 519
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