Automatic Enrolment Retirement Savings System Act 2024 section 76

Participants' accounts

Section 76 requires the Authority to maintain an individual account for each participant, recording contributions, repayments, fees, decisions, and other relevant information.

• The Authority must keep a separate account for every participant in the automatic enrolment system, recording all contributions received on their behalf.
• The account must record any repayment of contributions, any fees charged to the participant, and details of investment-related information held by the Authority.
• Any decisions or applications made by the participant — such as opting out, choosing investment options, or requesting access to savings — must also be recorded in the account.
• The Authority must record any determinations it makes concerning the participant, along with any other information it considers appropriate to maintain.