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Commenting on new research from the National Employment Savings Trust (NEST) showing that fewer people than expected are likely to opt out of auto-enrolled pensions, TUC General Secretary Frances O'Grady said:

date: 30 September 2013

embargo: For immediate release

Commenting on new research from the National Employment Savings Trust (NEST) showing that fewer people than expected are likely to opt out of auto-enrolled pensions, TUC General Secretary Frances O'Grady said:

'This is further evidence that auto-enrolment is turning out to be a huge policy success. Opt-out rates look set to remain lower than expected even as it spreads to smaller employers.

'And with growing evidence that people's attitudes have been permanently shifted by the crash, the time is right to start a debate on how best to increase contributions to ensure that the new system delivers decent retirement incomes.

'No doubt we can do more to encourage voluntary saving, but we need to plan for an increase in minimum contributions if we are to deliver good pensions for all.'

NOTES TO EDITORS:

- The NEST research is available at www.nestpensions.org.uk/schemeweb/NestWeb/includes/public/news/british-money-habits-fundamentally-changed.html

- The TUC's campaign plan can be downloaded from www.tuc.org.uk/campaignplan

- All TUC press releases can be found at www.tuc.org.uk

- Follow the TUC on Twitter: @tucnews

Contacts:

Media enquiries:
Rob Holdsworth T: 020 7467 1372 M: 07717 531150 E: rholdsworth@tuc.org.uk
Elly Gibson T: 020 7467 1337 M: 07900 910624 E: egibson@tuc.org.uk

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