UK. TISA calls for auto-enrolment contributions to rise to 12%

The Investing and Saving Alliance (TISA) has urged the Pensions Commission to set out a timetable for increasing minimum auto-enrolment pension contributions to 12%. The trade body warned that current contribution levels are unlikely to deliver adequate retirement incomes for millions of savers. In its response to the Commission’s interim report, TISA proposed phasing in the increase over six years while allowing flexibility for different incomes and circumstances. TISA also called for an auto-enrolment-style pension saving framework for the self-employed, greater use...