'Auto-escalation' possible next step for auto-enrolment

Follows DWP data

Victoria McKeever
clock • 2 min read

Department for Work and Pensions (DWP) data may have identified an increase in workplace pension participation but more needs to be done to address the exclusion of the self-employed and low-earners, say pension experts.

According to the latest figures on workplace pension participation and savings trends of eligible savers, auto-enrolment saw almost four-fifths (79%) of employees saving in a workplace scheme in 2015. The data also found increased participation from ‘non-eligible' low earners, with those earning less than £10,000 contributing 24% in 2014/15, rising from 16% in 2012/13. AJ Bell senior analyst Tom Selby acknowledged auto-enrolment had helped in reversing the "worrying decline" in the number of people saving into pensions but added: "Harnessing inertia to get people saving into a pension...

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