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Employers can cut through problematic auto-enrolment issues by putting 7 per cent of their employees' earnings in a pension scheme, says Scott Gallacher

25 August 2013

Auto-enrolment came from a determination to address the troubling lack of pension saving in the UK. That’s certainly a laudable aim, but many employers just see it as another piece of expensive red tape

In terms of funding, most companies won’t have a great deal of flexibility. After five years of austerity, most businesses will have already reviewed their pricing and trimmed their expenses. For those unwilling to see the bottom line hit (probably the majority), this leaves the option of reducing (or at least deferring) employees’ annual pay rises as the most likely way of meeting the cost.

Diverting part of the pay rise ‘pot’ into pensions means that the cost is not borne by the employer but effectively the employee. Not everyone will agree, but employers are likely to see this as a fair outcome. In any event, th...

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