Commenting on figures showing £90.4bn was saved into pensions in 2018 by eligible employees, Helen Morrissey, pension specialist at Royal London, said:
“These figures show that Britain is getting back into the pension savings habit with over £90bn saved by eligible employees. Auto-enrolment has played a particular part in this with pension participation in the private sector increasing massively since 2012. However, we need to build on this success to ensure groups such as part time workers and the self-employed are also participating as much as possible.”
Notes to Editors
Workplace Pension Participation and Saving Trends for Eligible Employees -2008-2018 can be found here.
About Royal London:
Royal London is the largest mutual life insurance, pensions and investment company in the UK, with assets under management of £138.9 billion, 8.6 million policies in force and 4,126 employees. Figures quoted are as at 31 December 2019.