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Employer contributions are crucial to boosting pension savings for over half (54%) of those enrolled in a defined contribution pension scheme in the UK, new research has revealed.
Fines worth just under £170,000 were handed out to firms for auto-enrolment failings in the 12 months from April 2014.
The FCA has published final rules this morning on implementing a charge cap on default funds for automatic enrolment.
Financial advisers and intermediaries could see a surge in demand for help with auto enrolment in the next year, as research found three quarters of small and micro employers looking for support.
The Pensions Minister is set to be grilled by MPs in Parliament on Monday as part of an ongoing inquiry into the progress made with automatic enrolment.
A pensions firm which has recently warned about that retirees face a major financial shortfall has welcomed research finding a healthy attitude among 18-24 year olds towards savings.
A financial and technology services firm claims it can "change the face of auto-enrolment" with its new proposition.

Nearly 300,000 small employers will shun advice when choosing a pension scheme to comply with auto-enrolment.

A review on whether the link between the auto enrolment earnings trigger and income tax should be axed next year moves closer to a conclusion next week.

Some firms will struggle to comply with the demands of auto-enrolment, NEST's chief executive has said, as research showed less than a quarter of small employers feel able to handle it.

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