ABI urges govt to set out auto-enrolment plans for next decade

Trade body urges immediate action

Martin Richmond
clock • 3 min read

The Association of British Insurers (ABI) is calling on the government to announce its future plans for auto-enrolment (AE) contributions over the next decade.

In a report published today (21 June), Automatic Enrolment: What Will The Next Decade Bring?, the trade body analysed the AE policy since it was introduced a decade ago. The report highlights that since its introduction, AE has been a success as it has achieved its target by bringing ten million more people into workplace pension schemes. However, the report also notes that many more challenges lie ahead to ensure that savers across the country are saving enough for retirement. To combat this, the ABI suggests minimum contribution rates be gradually increased from 8% to 12% over the c...

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