Many people are under-saving for retirement, after data revealed that nearly 4.5 million people were not enrolled in a workplace pension scheme.
Figures from the Pensions Regulator show that while four million workers are now in an automatic workplace pension plan, with compliance by more than 21,000 employers, there are still 4,443,000 workers who have not been enrolled.
The regulator revealed that 4,032,000 eligible jobholders have been automatically enrolled, 8.6 million workers were already members of a qualifying scheme and 423,000 eligible jobholders have had the defined benefit or hybrid scheme transitional arrangement applied to them.
The figures are also missing the nearly 4.5 million self-employed in the UK who don’t enjoy the benefits of auto-enrolment.
For further information on workplace pension schemes, email Julie Bruce at firstname.lastname@example.org
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