Early auto-enrolment could increase pots by 15%

clock

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Tyndall Partnerships head Sullivan on bespoke empowerment

Tyndall Partnerships head Sullivan on bespoke empowerment

‘No two IFAs invest in the same suite of models’

Isabel Baxter
clock 09 December 2024 • 4 min read
Smoothed funds set to be a 'bigger asset class for the advice market'

Smoothed funds set to be a 'bigger asset class for the advice market'

‘An attractive low-risk solution for retirees’

Isabel Baxter
clock 25 November 2024 • 3 min read
Advisers no longer see inflation as a major concern

Advisers no longer see inflation as a major concern

Funds offering a level of inflation protection were the last research, Square Mile finds

Isabel Baxter
clock 22 October 2024 • 4 min read