As we move into the second phase of auto-enrolment (AE), Hope William-Smith looks at what the industry thinks is next for improving retirement.
The Department for Work and Pensions' (DWP) 2021 Workplace pension participation & savings trends report showed almost nine in ten eligible pension savers - just under 14 million people - are participating in a workplace scheme. The figure proves a steady increase since 2012 is being maintained, as only four in ten people had workplace savings when AE was first brought in exactly a decade ago. Overall participation of eligible employees is around 88%, an increase Legal & General commercial director of workplace savings Katherine Photiou says "cannot be underestimated". While its likel...
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