Almost 30 per cent of eligible employees don’t understand or are unsure of the benefits of auto-enrolment, the Department for Work and Pensions has found.
According to research by Ipsos Mori for the Department for Work and Pensions, 69 per cent of those affected by auto-enrolment understand the benefits of the workplace pension saving policy, meaning that 31 per cent do not understand the benefits.
Of the survey respondents, 74 per cent of employees affected by auto-enrolment agreed that this type of saving is a normal thing to do and ad-recognisers are more likely to have this view, it was noted. The majority, 90 per cent, of those already enrolled stated that they had remained enrolled in their workplace pension.
When asked whether members believe a workplace pension is a “good thing” for them, 79 per cent agreed, while 3 per cent disagreed and 6 per cent were unsure.
The study, which surveyed workers aged 22 to state pension age, also noted that 43 per cent stated that they strongly agree with knowing the benefits of being in a workplace pension while two per cent strongly disagree.
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