IFS urges auto-enrolment reform to head off widespread undersaving

An Institute for Fiscal Studies (IFS) report, published as part of its pensions review in association with Abrdn, noted between 5 and 7 million defined contribution (DC) private sector employees would likely meet lower than expected retirement outcomes, and included recommendations for AE policy. The IFS report also suggested employees should have access to 3% contributions from employers, even if they do not contribute, while average and above average earners, as well as possibly those between 50 and 55 years old, should have increased contributions above the 8% default. There should...