Nearly a third of financial advisers think auto-enrolment contributions should be set at 12 per cent or higher, a Money Marketing poll suggests.
Just seven per cent of the more than 100 respondents to the latest survey conducted by Money Marketing believe auto-enrolment contributions should be equal to or lower than the current three per cent.
31 per cent voted that contributions should be 12 per cent or higher. 28 per cent said contributions should be set at 10 per cent, while an additional 12 per cent said they though the figure should be 8 per cent, the same number as said it should be 4 per cent.
Just four respondents said there should be no auto-enrolment at all.
A review conducted by the Department for Work and Pensions looking to examine the effectiveness of auto-enrolment and whether it could be adjusted to get more low earners saving more into pensions was conducted in January. Employees currently contribute a minimum of 3 per cent of their salary, which is increasing to 5 per cent from April 2019.