UK - The average contribution to an employer-sponsored stakeholder pension is just £44 a month, trade union research shows.
The TUC said Inland Revenue statistics showed that 440,000 employees had set up employer-sponsored stakeholder pensions, but that firms only contributed an average of £25 a month per employee.
Workers put in an average £19 a month making a total of only £44 – around £250 less than someone working on an average salary needs to save each month to fund a decent pension of half their salary.
TUC general secretary John Monks said: “These shocking figures show that stakeholder pensions are doing little to plug the pensions gap among those who do not have a proper occupational pension.
“Stakeholder pensions will only take off when employers are forced to contribute to their employee’s pensions.”
The TUC’s Pay up for Pensions campaign says that employers, workers and government must share the burden for providing pensions.
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