Pension savers need to engage with their retirement options far earlier than is currently normal to ensure they save enough through their lifetime, according to a report from the Association of British Insurers (ABI).
The report outlines a five-point plan to boost engagement with pensions, including the idea of a mid-life financial MOT. The ABI said the report was fuelled by the fact that more than half of fully...
The increase in minimum AE contributions has had little impact on opt-out rates - with cessations after April increasing by less than two percentage points, data from The Pensions Regulator (TPR) shows.
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