DWP data shows reduction in pension saver opt outs

2023 data shows workplace savings have not increased in the last two years

Jasmine Urquhart
clock • 4 min read
Pension opt-outs have decreased since last year, data from the DWP has shown
Image:

Pension opt-outs have decreased since last year, data from the DWP has shown

The number of those opting out of workplace pensions has reduced in the last year, while the amount saved has not increased, data from the Department for Work and Pensions (DWP) has shown.

The latest update for workplace pensions from the DWP showed eligible employee participation in workplace pension schemes has reached 88% - significantly higher than in 2012, when this was measured...

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

Jasmine Urquhart
Author spotlight

Jasmine Urquhart

Senior Correspondent at Professional Pensions

More on Defined Contribution

How we won the PP Investment Awards 2024... Arcmont Asset Management

How we won the PP Investment Awards 2024... Arcmont Asset Management

Arcmont won the accolade for DC Investment Innovation of the Year

Professional Pensions
clock 22 January 2025 • 3 min read
L&G Master Trust hits £30bn in assets under management

L&G Master Trust hits £30bn in assets under management

Scheme says it is the first commercial master trust in the UK to reach the milestone

Jasmine Urquhart
clock 21 January 2025 • 1 min read
An alternative to lifestyling in defined contribution

An alternative to lifestyling in defined contribution

Is too much derisking a bad thing?

Jonathan Stapleton
clock 20 January 2025 • 17 min read
Trustpilot