Rising auto-enrolment contribution an employee benefits opportunity

Employee benefit consultants (EBCs) believe that while the rise of minimum contribution rates - from 1% of salary to 2% for employers and from 1% to 3% for employees - this April may be challenging for the market, it is an ideal opportunity to sell the appeal of employee benefits more effectively, a survey by Metlife UK has found. Of the 202 EBCs questioned, 85% said auto-enrolment, which came into effect five years ago, has delivered a step-change in funding for benefits. Since it came into effect, 8.5m employees have started saving and 800,000 employers have signed up, however EBCs ...