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"The Department for Work and Pensions set up its auto-enrolment scheme this month. The policy obliges companies to enroll all staff into work pensions and is designed to give up to 11 million employees a private pension for the first time.... Estimates from the department suggest that companies will look to save 2.6 billion GBP of the annual cost of the pensions by capping wage rises for their staff.... Although auto-enrolment began this month, it will be years before all companies use the scheme. The Government has staggered its roll-out, starting with the largest firms. Small and medium-sized businesses have until 2018 to start, depending on their size."
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