By Daniel Hunter

October 1st will see the biggest change in the UK pension system since in inception as auto-enrolment begins to become integrated.

By the end of the year some 600,000 people are expected to be enrolled into the new system that automatically diverts funds from their pay packet.

The system will start with the largest firms, and will see pension contributions automatically paid by employees unless they opt out of it.

The Department of Work and Pensions (DWP) has outlined more details on the number of people expected to be signed up during the initial waves.

It estimates that 380,000 workers will be signed up in October, a total of 420,000 will be enrolled by the end of November, and 600,000 will be in place by the end of the year.

The biggest firms will see the system come into place first, with workers at small firms not likely to see any changes for a few years, as the government aims to see more people retire with a private pension, rather than just relying on the state pension.

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