Compulsion rejected once consumer costs are unveiled - ABI

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Consumers want something to be done about the pensions crisis, but do not want to be compelled to contribute to their own pension pot, ABI research reveals.

A YouGov survey of almost 2,500 people in January for the Association of British Insurers uncovered evidence suggesting 4.5m people - who are already most at risk of not having enough money to live on at retirement – do not want compulsion to contribute once it is explained how payment would impact their wages and salaries. Until now, opinion polls have consistently suggested 70% of the public would support greater compulsion, says the ABI, however in the cold light of day it seems this support soon dissipates because the amount required to pay is perhaps more than they would like to con...

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