Automatic enrolment (AE) has helped level the number of women saving into a workplace pension with the number of men, The Pensions Regulator (TPR) has said.
Latest research from TPR released today (24 October) examined the impacts of AE on savings trends so far.
The regulator said the gender gap in pensions savings has "significantly reduced" thanks to the uptake in women saving into workplace schemes.
More young people are now also saving into workplace pensions, while there has also been an increase in saving among employees of small and micro businesses.
Pensions and financial inclusion minister Guy Opperman said: "It's great to see a whole new generation of workers in big and small businesses putting money away and planning for a more secure future. The progress we've made towards eliminating the gender gap in pension saving is also hugely encouraging."
Workplace saving among non-eligible staff has also nearly doubled under AE with numbers of staff asking their employer to join a scheme, increasing from 16% in 2013/14 to 30% in 2017/18.
TPR director of AE Darren Ryder added: "It's terrific that the chance to save has been opened up to millions more people who may not have otherwise set up a pension. In years to come, young people in their twenties who started saving today will reap the reward of a retirement they can look forward to.
"When taking on a job, people now expect a pension. Even more encouraging is that there has been a rise in the number of people who, although are not eligible to be automatically enrolled, are asking to join a scheme. This signifies a huge cultural shift."
He added: "To continue to build on the success so far, we want people to get to know their pension and consider whether they are saving enough for the retirement they want."
Government sponsored AE provider NEST, which serves over eight million employees, revealed this month its membership rose by 28% over the 2018/19 fiscal year. It also revealed its male and female members exhibit equal savings behaviour.
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