Firms back pension automatic increase

Plans to automatically increase pension contributions have support of the majority of employers. Picture: TSPL
Plans to automatically increase pension contributions have support of the majority of employers. Picture: TSPL
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Almost six out of ten employers support the idea of “automatic escalation schemes” that see workers increase their pension contributions in line with pay rises.

A survey published by the Association of Consulting Actuaries today also found that contributions have flatlined in recent years and could actually fall because of the low levels set by the new auto-enrolment rules. Many employers feared that contributions were failing to keep pace with projected pension costs.