A third of workers are reducing or stopping pension contributions

This could mean losing out on £4,092 savings for those earning £35,000

Isabel Baxter
clock • 1 min read
A third of workers are reducing or stopping pension contributions

In the past two years, a third (33%) of all workers have considered reducing or stopping their pension contributions, according to Royal London.

This has risen to 49% of workers aged 18 to 34. The findings carried out with over 6,000 UK adults between 1 and 8 August 2023, found that one in ten (12%) pension savers are reducing the amount th...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

Schemes urged to prepare for potential deflation risks

Schemes urged to prepare for potential deflation risks

LCP warns schemes to consider how deflation could impact them and how to combat it

Holly Roach
clock 18 September 2024 • 1 min read
UK inflation holds firm at 2.2% as Bank of England decision beckons

UK inflation holds firm at 2.2% as Bank of England decision beckons

Services inflation remains 'sticky' ahead of MPC meeting on interest rates

Linus Uhlig
clock 18 September 2024 • 2 min read
PDP confirms GOV.UK One Login as identity service provider

PDP confirms GOV.UK One Login as identity service provider

PDP said use of the government service will ensure security and ease for dashboard users

Holly Roach
clock 18 September 2024 • 1 min read
Trustpilot