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What Can We Learn About Automatic Enrollment Into Pensions From Small Employers?

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  • Jonathan Cribb
  • Carl Emmerson

Abstract

Small employers employ significant fractions of the workforce, but their employees typically have very low pension plan participation rates and so are much more likely to be affected by government polices requiring automatic enrollment. We examine the first nationwide policy in the United Kingdom obliging small employers to enroll employees automatically into a pension. Exploiting pseudorandom variation in its introduction, we find automatic enrollment increased pension participation by 44 percentage points, reaching 70 percent — still substantially lower than the 90 percent rate among those working for the largest employers. We discuss evidence for the potential mechanisms that drive this lower participation rate.

Suggested Citation

  • Jonathan Cribb & Carl Emmerson, 2021. "What Can We Learn About Automatic Enrollment Into Pensions From Small Employers?," National Tax Journal, University of Chicago Press, vol. 74(2), pages 377-404.
    • Handle: RePEc:ucp:nattax:doi:10.1086/714113
    DOI: 10.1086/714113
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    Cited by:

    1. John Beshears & Ruofei Guo & David Laibson & Brigitte C. Madrian & James J. Choi, 2023. "Automatic Enrollment with a 12% Default Contribution Rate," NBER Working Papers 31601, National Bureau of Economic Research, Inc.
    2. Nöh Lukas & Schaffranka Claudia & Werding Martin, 2024. "Ergänzende Kapitaldeckung der Altersvorsorge: Gründe, Gestaltungsoptionen und Auswirkungen," Perspektiven der Wirtschaftspolitik, De Gruyter, vol. 25(1), pages 28-44, March.
    3. Laurence O'Brien, 2023. "The effect of tax incentives on private pension saving," IFS Working Papers W23/10, Institute for Fiscal Studies.

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