DWP data shows reduction in pension saver opt outs

2023 data shows workplace savings have not increased in the last two years

Jasmine Urquhart
clock • 4 min read
Pension opt-outs have decreased since last year, data from the DWP has shown
Image:

Pension opt-outs have decreased since last year, data from the DWP has shown

The number of those opting out of workplace pensions has reduced in the last year, while the amount saved has not increased, data from the Department for Work and Pensions (DWP) has shown.

The latest update for workplace pensions from the DWP showed eligible employee participation in workplace pension schemes has reached 88% - significantly higher than in 2012, when this was measured...

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

Jasmine Urquhart
Author spotlight

Jasmine Urquhart

Senior Correspondent at Professional Pensions

More on Defined Contribution

Aon DC tracker shows drop in Q3 retirement outcomes

Aon DC tracker shows drop in Q3 retirement outcomes

Tracker fell from 65.2 to 64.6 due to drop in expected investment returns

Holly Roach
clock 12 December 2024 • 1 min read
L&G launches inaugural endgame report

L&G launches inaugural endgame report

LGRI and LGIM divisions jointly launch report on DB endgame insights

Jasmine Urquhart
clock 11 December 2024 • 2 min read
Why we can't let the government dictate how we invest our pensions

Why we can't let the government dictate how we invest our pensions

Prioritising investments in illiquid assets risks leaving savers with poorer outcomes

Romi Savova
clock 06 December 2024 • 3 min read
Trustpilot