04 March 2020

Work needed to address gaping chasm in contributions to workplace schemes

2 min read

 
Helen Morrissey, Personal Finance Specialist
Helen Morrissey

Corporate PR Specialist – Long Term Savings

Share

Helen Morrissey, pension specialist at Royal London commenting on ONS data on workplace pension scheme membership.

“Today’s data shows membership of workplace pension schemes is at an all time high with membership among younger workers particularly strong. This is a great foundation but only the start.

Given the gaping chasm that remains between the level of contributions across DB and DC pensions we need to look urgently at how we can boost the level of DC contributions to ensure people get a decent retirement income.”

For further information please contact:

Helen Morrissey, Corporate PR Specialist – Long Term Savings

About Royal London:

Royal London is the largest mutual life insurance, pensions and investment company in the UK, with assets under management of £139 billion, 8.6 million policies in force and 4,348 employees. Figures quoted are as at 30 June 2020.