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10,000 jumbo jets fly towards better retirement

Staff writer |
Four million people have now been automatically enrolled in workplace pensions, an increase of over 1 million this year or over 6,000 a day on average.

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This is the equivalent of enough people to fill 10,000 jumbo jets.

Automatic enrollment began in October 2012, requiring all businesses to enroll eligible staff into a workplace pension and start paying contributions, beginning with the largest employers first. The next stage of automatic enrollment will see small firms begin to enroll their workers into workplace pensions, with all employers due to be included in the scheme by 2018.

The government’s action to introduce automatic enrollment into workplace pensions was in response to the problem of millions of people in Britain not saving enough for retirement.

Pensions Minister Steve Webb said "Automatic enrollment is a tremendous success with 4 million people now automatically enrolled into workplace pensions – enough to fill 10,000 jumbo jets. This policy is helping build a fairer society as millions of workers who didn’t have the chance to save in a workplace pension before are now on track for a more comfortable retirement."

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