Automatic Enrolment Retirement Savings System Act 2024 section 9

Functions of Authority

Section 9 sets out the principal functions of the Authority responsible for running the automatic enrolment retirement savings system.

• The Authority must establish, maintain and control the automatic enrolment system, including enrolling participants, collecting contributions, managing savings accounts, arranging investments and facilitating the payment of retirement savings.
• The Authority is required to monitor and enforce compliance with the Act and may undertake or commission research into retirement savings services and public awareness.
• The system must operate in the best interests of participants, be digital by default, and manage retirement savings with appropriate care and judgement.
• The Authority is independent in performing its functions and may delegate work to its own staff or to other authorised persons.