Pensions - Articles - Royal London on statistics from TPR and the Labour Market

Royal London comment on the UK Labour Market Statistics and the Auto-enrolment Compliance Statistics issued by The Pensions Regulator.

 Helen Morrissey, pension specialist at Royal London, said: “Today’s statistics show the continued strong upward trend in women’s participation in the workforce with 207,000 more women in full time employment compared to this time last year and 77,000 less in part time employment.

 Such a trend spells good news for female participation in workplace pension saving as one of the key reasons women are under-represented when it comes to auto-enrolment is because they are in part time work. Bringing more women into the auto-enrolment regime means more will be able to put sustainable plans in place for their retirement.” 

 Clare Moffat, head of business development at Royal London, said: “Today’s auto-enrolment compliance statistics show the number of employees auto-enrolled into a pension edging ever closer to the 10m mark. This is great news but the stats also show there are a further 9.2m workers within these companies who have not been enrolled into a pension. We need urgent action to bring groups such as the low paid, part time workers or the self-employed into auto-enrolment to ensure they are also given the opportunity to build a sustainable pension to see them through retirement.”

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