UK. The Battle Over Automatic Retirement Plan Enrollment
With the well-publicized retirement crisis looming, one might assume that any solution that leads to increased retirement savings would be welcomed with open arms. —Not so fast.
Industry observers often set the amount of their pay that plan participants should strive to contribute in order to ensure a secure retirement at 10 percent. Fewer than 10 percent of employees meet that threshold.
According to recent research by Cerulli, employees whose companies automatically enroll them in retirement plans are far more likely to save at least 6 to 10 percent of their pay.
Read More: Wealth Management
