The survey tracks trends in pension auto-enrolment and the report expresses concerns over both the numbers of employees ineligible for AE and levels of contributions.
This interim survey report examines the sharp rise in pension transfer requests from defined benefit arrangements and the difficulty members are finding in identifying IFAs prepared to advise them.
Auto-enrolment has boosted workplace pension coverage but, with savings levels woefully low, opt-outs rising and around 12 million workers missing out, big challenges need to be addressed in the 2017 Review. Click here to download
Survey highlights worrying pension trends in small firms.
There are huge challenges in encouraging higher pension savings
Need for next step reforms to increase minimum pension contributions
Graphics summary of the 2015 survey findings
Auto enrolment is welcome in extending pension participation, but contributions are worryingly low
Our survey suggests that many small employers still remain blissfully unaware of the auto-enrolment timetable and – more alarming still – the budgetary planning needed to identify the extra costs is lacking
In this report, we explore the virtues of a ‘Save More Tomorrow’ initiative, which has worked in the USA and is worthy of consideration as a means of encouraging higher pension contributions over the years ahead