One in 25 to opt out of workplace pension when contributions rise

Half (50%) of the 2,007 people surveyed said they would definitely stay opted in, leaving one-third (34%) of employees unclear on what they would do, and one-in-eight (12%) saying they would at least consider leaving their pension scheme. In April 2018, minimum pension contributions are set to rise from the current 2% (typically 1% employer and 1% employee) to 5% (3% employee, 2% employer). Then, in April 2019, they will increase again to 8% (5% employee, 3% employer). Aviva managing director of workplace benefits Colin Williams argued "huge positives" could be taken from its findings...