The number of people saving into workplace pensions is still on the increase with 15 million people and counting.

A primary reason for the 4.4 million-person-increase since 2012 is the amount of people being auto-enrolled.  The Institute for Fiscal Studies recently completed an analysis that revealed between 2012 and 2015, 95% of the rise in private sector membership was attributed to auto-enrolment.

Auto-enrolment was launched in 2012.  The plan is to have it fully rolled out by 2018.  The fact that millions of people are set up in a workplace pension means that workers will be able to benefit from years of saving, thus granting them a more secure retirement. 

Minister for Pensions, Richard Harrington recently chimed in on the subject singing praises of auto-enrolment.  He also explained how the long-term plan is to build on the success of auto-enrolment by finding new and innovative ways to continue to encourage people to save.

In April 2018, minimum contribution rates are scheduled to rise from 2% to 5%, and then from 5% to 8% the following year.

Before the year comes to a close, the Department for Work & Pensions will announce the scope of the 2017 review on auto-enrolment.  This review will be make sure auto-enrolment continues to work for everyone involved.