Research by Phoenix Group claims raising contributions to 12% could mean almost £96,000 more in the pension pot for an 18-year-old when they retire.
Latest articles from Aamina Zafar
Use surplus to restore inflation protection, say trustees
The call comes as DB schemes are enjoying their largest aggregate surplus in years, and the government is seeking to provide more flexibility over accessing this money.
‘Capacity crunch’ risk as schemes failing to plan for dashboards
Less than half of pension schemes have a plan for connecting to the pension dashboard system, according to a poll from LCP.
How TPR rates trustees on climate action
More than 60% of climate reports produced so far by trustee boards have some form of net zero emissions target, according to the regulator.
Support for government surplus access plans
DB schemes could generate half a trillion pounds in surplus payments over the next decade if new flexibilities are introduced.
Addressing diversity in pension trusteeship
After TPR highlighted a lack of diversity on trustee boards, how is the sector evolving to reflect a changing member population?
Pot for life could threaten auto-enrolment success, warns ABI
Employer survey shows companies are concerned about the potential negative impact on staff pension outcomes.
Industry ‘must do better on sharia investing’, experts say
Many UK pension funds and providers have only a limited understanding of sharia investing and Islamic finance, according to Pensions for Purpose.
How the pensions industry is embracing Ramadan
How organisations in the pensions sector are embracing Ramadan to support Muslim employees and educate their colleagues.
DB schemes expect strong fixed income returns
Pension schemes expected fixed income asset classes to top the charts over the next 12 months for investment returns, according to research.