UK - More than half of employees pay less than 6% of their salary into their defined contribution schemes, a survey has shown.
The study, carried out by actuarial consultant Hewitt Bacon & Woodrow, questioned more than 250 organisations and nearly 500 schemes. It also found that 15% of schemes had a take-up rate of between 0-9%, while 20% of those asked had a rate of more than 70%.
The registration deadline for the Workplace Savings & Benefits Awards 2019 is today.
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The Pensions Regulator (TPR) has granted Now Pensions a six-week extension for its master trust authorisation application after the 31 March deadline, PP can reveal.