29 March 2021

Encouraging to see pension contribution bounceback after coronavirus dip

3 min read

Eliot Woolfe
Eliot Woolfe

Press Officer

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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.”

About Royal London

Royal London is the largest mutual life insurance, pensions and investment company in the UK, with assets under management of £148 billion, 8.8 million policies in force and 4,412 employees. Figures quoted are as at 31 December 2020.

For further information please contact:

Eliot Woolfe, Press Officer

Notes to Editors

Data can be found here.