The National Association of Pension Funds (NAPF) commented on the new timetable for pension auto-enrolment reforms published by the Government today (Wednesday).
Joanne Segars, NAPF Chief Executive, said:
“We are pleased that the Government has spelled out a new timetable for auto-enrolment. This will provide the clarity that businesses need to get on with preparing for these important changes.
“Now the Government needs to stick to the new timetable and avoid last minute changes that will undermine the success of the reforms. There have been too many delays already.
“These reforms are a once in a generation opportunity to help tackle the UK’s pensions savings crisis. But they require a lot of preparation. Employers need to make important decisions on how to fund the new pensions and what type of schemes they will use. They will also have to decide how they will manage the costs, and how they will set up the payroll.”