Recent research by Prudential showed that close to two-thirds of those living in the UK think that employee contributions to employer-sponsored retirement savings plans should be compulsory.
But respondents don’t believe that employees should bear the full responsibility for their retirement savings plans – some 75% believe that employers should also be made to contribute.
And only 19% of the sample said that individuals should be left to make their own retirement planning decisions and just 4% believe that the government should provide for them.
Of those supporting compulsory employee contributions
- 15% said people should pay up to 4% of their salary,
- while 12% thought that more than 16% of annual earnings was reasonable.