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

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

Jasmine Urquhart
Author spotlight

Jasmine Urquhart

Senior Correspondent at Professional Pensions

More on Defined Contribution

Salary sacrifice change risks 'undermining' the progress of pensions reform

Salary sacrifice change risks 'undermining' the progress of pensions reform

Budget change would hit the growth phase directly leading many to cut contributions

Jonathan Stapleton
clock 10 November 2025 • 2 min read
FTSE bosses must find credible growth stories if they want pension cash

FTSE bosses must find credible growth stories if they want pension cash

Darren Philp says UK companies must first look to themselves if they are short of capital

Jonathan Stapleton
clock 10 November 2025 • 4 min read
ESG remains important consideration for DC providers in 2025

ESG remains important consideration for DC providers in 2025

EY report finds improvements in quality of ESG data but says providers still face challenges

Martin Richmond
clock 03 November 2025 • 4 min read
Trustpilot