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9% opt out of the automatic pension enrollment

Just 9% of people have so far opted out of the Government's automatic pension enrollment programme. Credit: PA Wire

Nine out of 10 people who have been placed into a workplace pension are staying in, according to the first official indication of the success of landmark reforms to tackle the retirement savings crisis.

Just 9% of people have so far opted out of the Government's automatic enrollment programme after being placed in a pension scheme by their employer, Department for Work and Pensions (DWP) research found.

Its findings also suggest that young people are leading the way in the "savings revolution", with those aged under 30 more likely to remain in a pension scheme they have been placed into than other age groups.


'Government needs to come clean on pensions' says Miliband

In an interview for ITV News, Labour leader Ed Miliband said that the Government needs to come clean on pensions. He also said that Lord Heseltine's criticism of the Government's stance in Europe is a "devastating" blow for David Cameron.

He said: "The most important thing the Government needs to do is come clean about what the implications of their pension proposals are.

"I think it is devastating for the Prime minister that you have now got Lord Heseltine saying that he is essentially operating in the party interest and not the national interest, and warning about the dangers of the approach."

Government pension plans questioned

Workers who take their pensions with them to new employers risk losing up to a quarter of their funds under Government plans, pension funds and unions warned.

Ministers want to make it easier for people to take their work pension with them when they change jobs. They say the "pot follows member" scheme could halve the number of dormant pension pots that would have otherwise been created by 2050.

NHS workers to vote on pension reform

Hundreds of thousands of NHSworkers will start voting on whether to accept the Government'scontroversial pension reforms, with a no vote set to spark fresh strikes.

NHS workers will start voting on whether to accept the Government's pension reforms

Unison said its 450,000 health service members in England, Wales and Northern Ireland, including nurses, therapists, paramedics, cooks, cleaners and porters, will be balloted in the next few weeks.

Unison: NHS reforms proposal have 'changed significantly'

Christina McAnea, Unison's head of health has responded to the government's final proposals on pension reforms saying that the proposals have "changed significantly" from when negotiations first started. Ms McAnea said:

"Key to the changes that Unison has secured is success in keeping the fair deal. This is particularly significant in the light of NHS reforms because it allows outsourced staff to remain in the pension scheme.

"The new proposals maintain a defined benefit scheme with a move towards career average. In this harsh economic climate it was crucial to ensure that no health worker earning less than £26,000 a year should be hit with an increase in their pension payments this year.


Danny Alexander: Pension reforms discussion has been 'constructive'

Chief Secretary to the Treasury Danny Alexander has said that there had been "constructive discussion" with unions regarding the government's controversial reforms on pensions. Mr Alexander said:

"These agreements mean that public servants who have dedicated their lives to serving the public will rightly continue to receive pensions that are among the very best available, while delivering the Government's key objectives in full".