NEST report on automatic enrolment finds positive trends
The National Employment Savings Trust has published its annual report on the automatic enrolment landscape. It has uncovered some very positive trends relating to automatic enrolment.
In this year's report, it has concentrated on employers' and workers' attitudes to automatic enrolment.
It has found that opt-out rates are lower than expected. It was thought that around 15% of those automatically enrolled would opt out, but the actual figure is around 10%. Reasons that workers gave for not opting out include:
- Not wanting to lose employer contributions
- Feeling that the time was right to start saving for retirement
- It was the easy thing to do
Also, saving for their retirement has become more of a priority. In 2011, this ranked 7th in people's financial priorities, whereas in 2013 it had risen to 3rd place.
According to NEST's research, 86% of people questioned are now aware of automatic enrolment. If you are unsure about what it is or how you might be affected, you can read a simple explanation on our website here .
Our mission is to make pensions accessible to everyone, so if there is anything you do not understand about automatic enrolment or any other pensions matter, please contact us and we will explain it to you.