Standard Life calls for auto-enrolment into ISAs

The insurer also called for the automatic escalation of pension contributions, in which employees' contribution rates are increased by 0.5% every time they get a pay rise. In its report, Keep on Nudging, Standard Life suggests enrolling staff into an ISA and a pension at the same time. However, it does predict this would have a negative impact on savers then choosing to opt-out of the system. It predicts enrolment into ISAs would cause 3% more workers to opt out of saving, whilst auto-escalation would cause a 4% increase in opt-outs. Under the current reforms - without the addit...