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7th September 2011
Research from Legal & General shows that despite auto-enrolment soon coming into force, 33 per cent of workers will be opting out of a workplace pension.
Just over a fifth (21 per cent) of respondents said they had not yet decided what they were going to do.
Legal & General's operations director of workplace savings Ian Mahoney noted that people's attitudes towards workplace pensions have not altered much over the past four years.
"We found that awareness among employees who are eligible for auto enrolment is quite low with less than a third (29 per cent) saying they had heard anything about it," he explained.
Many people also believed that the auto-enrolment process is a nudge aimed to encourage them to start saving money.
Auto-enrolment may not encourage pension savings
Around a third of people will not stay in their company''s pension scheme despite being auto-enrolled.
Research from Legal & General shows that despite auto-enrolment soon coming into force, 33 per cent of workers will be opting out of a workplace pension.
Just over a fifth (21 per cent) of respondents said they had not yet decided what they were going to do.
Legal & General's operations director of workplace savings Ian Mahoney noted that people's attitudes towards workplace pensions have not altered much over the past four years.
"We found that awareness among employees who are eligible for auto enrolment is quite low with less than a third (29 per cent) saying they had heard anything about it," he explained.
Many people also believed that the auto-enrolment process is a nudge aimed to encourage them to start saving money.
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