UK - Workers want pension contributions to be compulsory for staff and employers, a new report by Standard Life reveals.
Its study shows 61% of working adults say they would welcome being forced to save for retirement. Their favoured level of saving was 5%-6% of income. But even more – 78% – want compulsory contributions from employers.
Three-quarters of workers felt they were least likely to be let down in retirement by a company pension but only 45% were members of an occupational pension scheme.
Standard Life marketing director Martin Slater said: “It is clear that most employees still have an enormous amount of trust in their own scheme and their employer’s ability to provide their retirement benefits.”
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