A third of workers are reducing or stopping pension contributions

This could mean losing out on £4,092 savings for those earning £35,000

Isabel Baxter
clock • 1 min read
A third of workers are reducing or stopping pension contributions

In the past two years, a third (33%) of all workers have considered reducing or stopping their pension contributions, according to Royal London.

This has risen to 49% of workers aged 18 to 34. The findings carried out with over 6,000 UK adults between 1 and 8 August 2023, found that one in ten (12%) pension savers are reducing the amount th...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

Isabel Baxter
Author spotlight

Isabel Baxter

Senior Reporter at Professional Adviser

More on Industry

Good News Corner: Quantum Advisory employees become Dementia Friends

Good News Corner: Quantum Advisory employees become Dementia Friends

Quantum Advisory employees support initiative led by Alzheimer’s Society

Jasmine Urquhart
clock 04 April 2025 • 1 min read
Many savers still not accessing guidance or advice ten years on from pension freedoms, IFoA says

Many savers still not accessing guidance or advice ten years on from pension freedoms, IFoA says

IFoA report finds fewer people understand their options now compared to three years ago

Holly Roach
clock 04 April 2025 • 4 min read
Professional Pensions: Stories of the week

Professional Pensions: Stories of the week

TPR extends oversight to professional trustee firms, FCA greenlights two LTAFs, Lloyds longevity hedging transactions

Professional Pensions
clock 04 April 2025 • 1 min read
Trustpilot