Make the Most of Your Workplace Pension

Want to secure the best possible income in retirement? Ignore the news that auto-enrolment may be changing and make the most of the workplace saving scheme today

Emma Wall 24 August, 2015 | 8:12AM

 
 
 
 

Emma Wall: Pension savings currently make up 42% of incomes for retirement households. That's according to MetLife analysis of ONS data. The idea behind auto-enrollment is that retirement savings will make up a 100% of income for retirement households. So, how are we going to get that?

Currently the minimum contribution that you have to make with auto-enrollment is 0.8% of salary once a month. However, that is going up to; first, 2.4% in 2017 and then 4% of your income in 2018. There are some concerns about that.

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About Author

Emma Wall  is former Senior International Editor for Morningstar

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