Two thirds of people are receiving employer contributions of less than 4% according to the Office for National Statistics (ONS).
In its report, Active members of occupational pensions-employer contribution rates, the ONS showed while there was more pension coverage through auto-enrolment (AE), contribution rates were still low....
More needs to be done to speed up DB to DC transfers but, as Jonathan Stapleton says, more also needs to be done to protect members.
The Pensions Ombudsman (TPO) took on 2,566 early resolution cases in 2018/19 after onboarding a team from The Pensions Advisory Service (TPAS), according to its annual report and accounts.
The lifeboat fund is in a good position despite reserves taking a £0.6bn hit. But the ramifications of the EU judgment on member compensation is an area of concern for CEO Oliver Morley, writes Stephanie Baxter