TPR and PLSA reveal AE contribution hike has had minimal impact on opt-outs

Kim Kaveh
clock • 3 min read

The increase in minimum auto-enrolment (AE) contributions has had little impact on opt-out rates - with cessations after April increasing by less than two percentage points, data from The Pensions Regulator (TPR) shows.

In April, minimum AE contribution rates increased from a total of 2%, with a 1% minimum employer contribution, to a total of 5%, with a 2% minimum employer contribution. The survey results outli...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Contribution

Government warned it must 'urgently' address rise in small pots

Government warned it must 'urgently' address rise in small pots

Consultancy says government’s plans to tackle small pots are ‘complex’ and ‘expensive’

Martin Richmond
clock 19 April 2024 • 3 min read
Aviva launches 'find and combine' tracing, checking and consolidation service

Aviva launches 'find and combine' tracing, checking and consolidation service

Insurer says end-to-end pension service takes customers just ten minutes to begin

Jonathan Stapleton
clock 17 April 2024 • 2 min read
Why scheme governance and operational resilience is key for private markets in DC

Why scheme governance and operational resilience is key for private markets in DC

Jesal Mistry says private markets can offer significant potential benefits for members

Jesal Mistry
clock 12 April 2024 • 6 min read
Trustpilot