Encouraging to see pension contribution bounceback after coronavirus dip

Responding to data showing a 12% rise in employee pension contributions to private sector defined contribution schemes between Q2. and Q3. 2020 Helen Morrissey, pension specialist at Royal London, said:

“After seeing a dip in employer and employee pension contributions in the last set of data it is encouraging to see the figures have bounced back. While this will be because less workers were on the Job Retention Scheme it is heartening to see the uncertainty caused by the pandemic has not caused people to turn their back on pensions by either stopping or slashing their contributions long term.”