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PP poll finds 56% of respondents favour proposals in paper published by WTW

A majority of the pensions industry has backed a proposal to enrol employees into schemes at maximum contribution levels, a Professional Pensions poll shows.

Results of last week’s Pensions Buzz survey revealed 56% of respondents supported the findings of a research paper published by WTW which suggested employees should be enrolled into pension schemes at the maximum contribution levels to prevent inadequacy in retirement.

Of the respondents who supported enrolling members into schemes at the maximum contribution levels, one said they had already implemented this in their scheme and “very few have opted out of matching, whereas take-up was low when it was opt-in”.

Another argued WTW’s proposals “make sense” because “inertia does its work then”.

A third stated inertia among members usually means many “do not engage” and therefore “wouldn’t drop contributions”. However, the same pundit added lower contributions “should always remain an option”.

The survey also found 33% disagreed with WW’s suggestion and the remaining 11% said they did not know.

Out of the respondents who disagreed, one said the proposal was “laudable” but caveated “it has to be realistic for the employees and employers”. Another agreed and said contribution levels were “an individual’s choice”.

A third opined: “This is for employers and employees to determine, or for the government to legislate.”

A separate pundit stated employees should be enrolled at “minimum levels” and added: “Individuals must take personal responsibility for anything higher depending on their priorities.”