Spring Statement 'empty' but economic projections good news for contributions

His first Spring Statement, delivered today, contained no pensions announcements. Instead, he focused largely on the broader macro-economic picture, as well as providing updates and confirmations of previous policy announcements. However, projections that real wage growth will be positive this year, plus the £350 increase in the personal tax allowance, will help to alleviate concerns that auto-enrolment (AE) opt-out rates will soar when contribution rates rise next month. The additional take-home pay for the average saver will go some way to mitigate the rise in employee contributions...