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Crunching the biggest trends down into figures
The impact of automatic
enrolment on future generations
Millennials make
up around
Participation
in workplace
pensions has
doubled for 22-29
year olds due to
the introduction
of automatic
enrolment
40%
of the target population
for automatic enrolment
2011/12
36%
72%
27% higher
than his fund under the AE
minimum
Removing the lower earnings
limit and automatically
enroling at age 18 means a
median earner could achieve a
pension pot of £146,200,
32% higher
than under the current policy
would have a median pot of
If the triple lock remains
up to the retirement of
millennials, it will have a
larger proportional impact
on lower earners. Removing
the triple lock could reduce
retirement income by
FE TRUSTNET
2015/16
A median earning
male aged 22 in
2017 who saves at
8% contributions
would have a pension fund
5%
A high-earning
female earning at
the 90th percentile
and aged 27 in 2017
£158,100
under the AE minimum. If she
contributes 16% to her pension,
her median pot would be
£426,200
Source: The Pensions Policy Institute, sponsored by Standard Life
trustnet.com