Workplace pension participation soars under auto-enrolment but expert warns further reform still needed
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dailyrecord.co.ukNew data from the Office for National Statistics (ONS) shows that around eight in 10 eligible employees had a workplace pension in April last year despite the tough economy.
The ONS said the workplace pension participation rate in the UK was 79% in April 2021, up slightly from 78% in 2020. In 2012 - the year automatic enrolment into workplace pensions started - participation levels were at less than half (47%).
It said the growth was partly explained by increased public sector employment driven by the response to the coronavirus pandemic.
Since the rollout of automatic enrolment in October 2012, the difference in workplace pension participation between the public and private sectors has narrowed considerably.
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