Third of millennials to opt-out when auto-enrolment hits 8%

The problem is, however, “that in order in order to retire with comparable pensions to their parents, most millennials will need to contribute far more than auto enrolment provides, but they simply do not have the spare cash at the beginning of their working lives,” he concluded.

Millennials are not the only ones that are optimistic about auto-enrolment.

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According to research published by the Department of Work and Pensions (DWP), 80 per cent of employees are positive about the benefits of being enrolled into a workplace pension.