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The Difference Between The Best And Worst Pension Incomes Can Be Very Surprising

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More than half of workers ‘unaware’ of automatic enrollment

Despite the fact that businesses will be required to automatically enroll their employees into a pension scheme in less than a month, more than half of employees are oblivious to the impending changes.

Research conducted by Scottish Widows revealed that 52% of the 5,200 workers surveyed were "completely unaware" that they will join a company scheme from October 1st. The report described the findings as “alarming”.

Lynn Graves of Scottish Widows said: "With just three weeks to go until auto-enrolment comes into force, it is shocking that there remains such a gap in awareness, and that the media has had to step in to play a pivotal role in educating people about these changes."

The media provided the first news of the pension change for two thirds of those surveyed. A Department for Work and Pensions spokesman argued that more work will be done to raise the profile of automatic enrollment: "We will boost awareness of automatic enrolment with our national campaign which includes television advertising from later this month.

"While the launch is in October, we are bringing the reforms in gradually over the next five years, so it's understandable that some people will not be aware of the changes. The Pensions Regulator is working with employers to make sure they have the information they need to explain the benefits of workplace pensions to their staff."

According to forecasts in the Department for Work and Pension’s (DWP) Workplace Pension Reforms: Baseline Evaluation Report,median average private pension income could climb to between £153 and £195 a week by 2070 as a result of automatic enrollment.

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