With the larger companies across Britain counting the days before auto-enrolment, it has been revealed that the Government is about to launch an £11 million advertising campaign prior to the start date.

It has been revealed that many companies had still not planned for the costs that will arise from the scheme. As such a situation could arise where companies will find themselves making changes and adjustments to their working practices post launch.

Not opting out

The campaign being used by the Government is to encourage employees to enrol when the new scheme rules are introduced in late autumn this year. Early research revealed that a large proportion of workers would choose to opt out during this economic climate when household financial budgets have been chopped down quite considerably.

With the financial restraint put on the budgets of many households, saving into a pension may not be so important when many are looking at working during retirement.

Information revealed by the Department for Work and Pensions (DWP) has revealed that the auto-enrolment advertising campaign will be starting today. This will include all forms of advertising including printed press, radio advertisements and outdoor advertising.

In a tactical pursuit of trying to stop people opting out of the scheme the Government will be running the campaign in waves. It has also been revealed that the advertisements themselves will be explaining any fundamental information regarding the pension reforms and will serve as a ‘sign post’ for people to the Directgov website where they will be able to find out more information.

For those that are unaware of the scheme, it is an attempt to solve the struggling pension saving market. With this in mind, the scheme will automatically enrol workers into the company pension allowing those people to save who would not have otherwise attempted to do so.

Phasing

Auto-enrolment will be completed in stages; beginning with the larger companies who will be required to auto-enrol their staff in October, smaller companies will be given until after the next election to introduce the scheme.

Speaking of the scheme pensions minister, Steve Webb, has said that the Government’s auto-enrolment scheme has the power to ‘transform this country’, finally closing the chapter on the fall in pension saving and the financial struggle many have in retirement where many have been forced to work into old age.

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