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The government will be monitoring adherence to the guidance via our own internal research and our evaluation of the overarching reforms. We will continue to engage with stakeholders on how the guidance is being used and the extent to which it is being followed. This will be in preparation for a review of the guidance as part of the evaluation of the reforms during which we will again engage with stakeholders.
This consultation document sought views on guidance for offering a default option for defined contribution automatic enrolment pension schemes.
Automatic enrolment will see millions of individuals newly saving for retirement. It is likely that many of these individuals will not make an active investment choice. For this reason the government has developed guidance to provide helpful information on the design, governance, communication and review of default options. The intention was that the guidance would be published in spring 2011.
This consultation is now closed. It ran from 13 December 2010 to 7 March 2011.