
ABI calls on Pensions Commission to raise auto-enrolment pension contributions to 12%
The ABI noted the increase would boost a median earner’s pension pot by 50% by the time they retire.

The ABI noted the increase would boost a median earner’s pension pot by 50% by the time they retire.

Charlie Bagley said: "These priorities will help make rules more effective to create a market that works better for everyone."
Sales of annuities worth over £250,000 increased by 31% and those over £500,000 rose by 54%.
ABI has set up a new pensions insurance and investment board to focus on pension insurance, annuities and investment.

Coordinated by the ABI and Pensions UK, the campaign uses a fitness theme to encourage the public to check their pension plans.

Rob Yuille said: “It’s an exciting time for pensions and there is much to celebrate in the government’s Pension Schemes Bill. But it does also need careful scrutiny."

The ABI’s latest report found that relying on a single, Government-backed dashboard will not deliver the expected benefits.

Based on current holdings, £252bn of pension assets are in scope, with the figure expected to rise over time.

New ABI research shows a substantial majority of people accessed healthcare services through workplace insurance schemes in 2022, emphasising their crucial role.
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