Early auto-enrolment could increase pension pots by as much as 15% and help employers, industry figures say.
B&CE Benefit Schemes deputy chief executive, John Jory, says it was a "wasted opportunity" to wait until 2012 before auto-enrolling employees. If a 25-year old auto-enrolled at 8% in 2009, these extra three years before 2012 could add 15% to their retirement fund, he explains. Standard Life head of pension policy John Lawson agreed. He says: "It would help employers that want to auto-enrol now - why shouldn't they just do it?" He says there would be a huge number of firms forced to enrol on October 1, 2012 - and a huge number of non-joiners who would opt out. Lawson says: "There...
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