In response to the Department for Work and Pensions research on auto-enrolment schemes, a Which? spokesperson said:
“It’s extremely positive that few people are opting out of auto-enrolment pension schemes, but we still need to see new, minimum standards for workplace pensions as soon as possible. Consumers need to be confident that the pensions industry is looking after their money and they’re being enrolled into high quality, good value schemes.”
1. In March 2013, Which? surveyed 891 UK working adults (18-65) who earn enough to be eligible for auto-enrolment and found that 35% of people who have opted out, or say they will opt out, do so because they do not trust the pension industry to look after their money, and 22% because they are concerned about the quality of the scheme.