AS reports suggest that some workers will stop paying into their workplace pension following the planned increase to auto-enrolment minimum contributions in April this year, it’s more important than ever for the government, employers and the pensions industry to highlight to workers across the UK, the benefits of continuing to save for their future.
People who had opted out of their pension told us in recent research that they wouldn’t have opted out had they been made aware of how much their employer and the government also put into their pension.
By opting out, they missed out on a top-up from the government, and the contribution from their employer – so effectively passing up on a pay rise.
With millions of people at risk of not having enough to live comfortably in retirement, it’s vital that savers across the UK have the full picture.
Gregg McClymont, Director of Policy, The People’s Pension
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