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Workers buy in to auto-enrolment

Over 90% of people placed in a workplace pension under the auto-enrolment initiative are staying in, according to new research.

The Department for Work and Pensions (DWP) revealed the figure on 8 August, as part of research carried out with the 50 biggest employers to join the automatic enrolment programme.

The findings also suggest that young people are leading the way in the savings revolution, with more under-30s staying in a pension scheme than other age groups.

The duty of enrolling workers into a qualifying workplace pension scheme started with the largest employers in October 2012 and will be extended to all employers by 2018. By then, it is expected that between six and nine million people will be saving more into a pension or join a scheme for the first time.

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