What is Auto Enrolment?

People in the UK are living for much longer, which is great. But, this also means that we could have more time to spend in retirement, which means we need to save more!

Introduced by the Government, Auto Enrolment is legislation that requires UK employers to enrol employees into a pension scheme and deduct contributions from their pay. However, they will be treated slightly different depending on what 'group' they fall into.

The idea is to give you some support with your saving because, once you are in the Scheme and putting some money away for yourself, ABF will contribute towards your pension too – that’s free money!

Auto Enrolment impacts virtually all employers in the UK, coming into force at different times over the next few years depending on their number of employees. For ABF, this started on 1 February 2013. This is called the Staging Date.

The ABF Pension Scheme meets all the requirements of Auto Enrolment legislation; the Defined Contribution section of the ABF Pension Scheme will be used by ABF for the enrolment of its employees.

Click here to see a brief overview of how it all works.