Automatic Enrolment Report 1: What level of pension contribution is needed to obtain an adequate retirement income?
This is the first report in a series of research reports that investigate the potential impact of auto-enrolment into private pensions on individuals and their levels of pension saving but also on the shape of the private pension market.
This particular report analyses the range of retirement incomes various individuals might achieve from making the minimum required level of contributions to a Defined Contribution pension. It also analyses the contribution rate necessary for different individuals to have a “good chance” of achieving an adequate level of retirement income. Finally the report compares the contribution rates necessary to achieve adequate retirement income levels with current contribution levels and discusses to what extent there is an adequacy gap.
To read the full report, please click here.
To download the Executive Summary, please click here.
To view the PPI press release, please click below.
PPI Press Release
A write up of the seminar is available here along with the presentation slides used by Chris Curry which can be viewed here.
The PPI would like to thank the sponsors of this report; the Association of British Insurers and the DC Investment Forum. This report is one in a series of reports on automatic enrolment, which is also sponsored by the DWP, the Institute and Faculty of Actuaries, Legal & General, Prudential and The People's Pension. To view the other reports in the series, click here for report 2 (The benefits of automatic enrolment and workplace pensions for older workers) and here for report 3 (How will automatic enrolment affect pension saving?).
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