Are employers ready for re-enrolment?

As larger employers are assessing and re-enrolling employees for the first time, Ian Bird looks at what employers should be doing to maximise this opportunity.

“This new set of obligations is a second chance to communicate the benefits of the scheme and encourage people to enrol, join the pension scheme and save for their future.

Re-enrolment is also a chance for companies to review what did and didn’t work first time around and if needed, make changes to their automatic enrolment process.”

Ian Bird, director at employee benefits adviser, Secondsight, said: “Those who opted out of auto-enrolment have lost significant savings compared with colleagues in the scheme. However, this new set of obligations is a second chance to communicate the benefits of the scheme and encourage people to enrol, join the pension scheme and save for their future. “Most employers re-enrolling now have the option to review their timings and delay re-enrolment by three months. Workers will be then be re-assessed again and re-enrolled, if they meet eligibility criteria, and given opt out rights.

We hope most companies won’t delay their re-enrolment date, and instead review and amend their enrolment timings by actually bringing this forward by three months, which is also an option. Each month that passes is lost opportunity for employees to save for the future.”

Read the article, The HR Director