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Survey reveals support for auto-enrolment

Consumers support auto- matic enrolment into pension schemes but are unhappy about raising the state retirement age, according to a survey by B&CE Benefit Schemes.

The research was based on the Pension Commission’s report and finds that only 21 per cent support raising the state retirement age, with 56 per cent against and 36 per cent of those strongly against.

But 62 per cent are in favour of automatic enrolment into employers’ schemes, with only 15 per cent against.

Sixty-one per cent backed both the national pensions savings scheme and paying a contribution of 4 per cent of income, with most of those in the 45-plus age bracket.

B&CE says 40 per cent of people aged between 16 and 25, have no pension provision and 47 per cent are totally unaware of the report, with 37 per cent believing they will be affected by the findings.

The research was conducted among 779 full-time workers a week after Lord Turner presented the report.

B&CE deputy chief executive John Jory says: “Perhaps the most interesting findings were that such a big majority seem to be in favour of both auto-enrolment and the soft-compulsion proposal. We would be delighted if all workers saved a minimum of 4 per cent of their earnings but we think the pension industry is best placed to run pensions, not the Government.”

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