The number of people saving through a workplace pension scheme has dropped 15% since 2007, with just a quarter of workers actively saving for retirement.
A Department for Work and Pensions (DWP) study said the number of workers enrolled in a work-based scheme was down from 31% in 2007 to 26% today. And only 31% of private sector organisations currently offer any pension provision for their staff. This is down from 41% in 2007. Pensions minister Steve Webb said the introduction of auto-enrolment would reverse the slump. Webb said: "Automatic enrolment into workplace pensions will start the monumental shift we need to get millions more people in Britain saving for their retirement. "It's a major change for business too, especially ...
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