Scottish Widows reports 9% growth in workplace pension contributions

Pension provider says growth in regular contributions is ‘encouraging’

Jonathan Stapleton
clock • 1 min read
Graeme Bold: Despite cost-of-living challenges, it’s encouraging that people are saving more into their workplace pensions
Image:

Graeme Bold: Despite cost-of-living challenges, it’s encouraging that people are saving more into their workplace pensions

Lloyds Banking Group posted a 9% annual increase in regular contributions to workplace pensions during 2023 – saying the increase showed people were saving more despite the cost-of-living crisis.

The banking group, which owns pensions provider Scottish Widows, unveiled its full year results for the year ended 31 December 2023 at the end of last week - results which also showed net flows of ...

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

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Contribution

Nest appoints Wellington Management to run £3.5bn active EM equity strategy

Nest appoints Wellington Management to run £3.5bn active EM equity strategy

Emerging markets brief aims to strengthen ESG, risk evaluation and stewardship

Jonathan Stapleton
clock 02 October 2026 • 1 min read
Industry and regulators have a chance to shape a new era for DC pensions, TPR says

Industry and regulators have a chance to shape a new era for DC pensions, TPR says

Chair Emma Douglas says the pension system is ‘unfinished business’

Martin Richmond
clock 02 October 2026 • 5 min read
Employee contributions to DC schemes rise to £3.2bn

Employee contributions to DC schemes rise to £3.2bn

Latest ONS data shows deferred memberships of DC schemes also increasing

Alex Levy
clock 02 October 2026 • 2 min read
Trustpilot