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Calls for auto-enrolment to rise above 12%

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.

Experts look to flexible auto-enrolment to boost advice engagement

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.


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There is one comment at the moment, we would love to hear your opinion too.

  1. Christopher Petrie 10th March 2018 at 9:05 am

    Mmm. You’re a year ahead. Employees currently pay 1%, rising to 3% in April.

    The 5% figure is next year.

    Quite a tardy, basic, error for MM to make?

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