The number of employees automatically enrolled into a workplace pension scheme has reached 5 million, according to the Pensions Regulator.
The figures show that more than 42,700 employers have enrolled their employees into a workplace scheme since auto enrolment was launched in 2012.
Auto enrolment has now been rolled out to over half of all eligible workers.
Charles Counsell, executive director for auto-enrolment at the Pensions Regulator, said:
“Automatic enrolment affects every employer with workers in the UK. It’s automatic for staff – they don’t have to do anything. But it’s not automatic for employers: they need to take steps to make sure certain workers are enrolled.
“More than 43,000 employers have automatically enrolled their staff into a pension and nearly half of them said they wished they had left more time as it took them longer than they thought. We encourage all employers, however small, to learn from the experience of other employers – leaving extra time is better than leaving it too late.”