Pension gender inequality gap reaches £186k as savers are urged to ‘get ahead of the game

Duncan Watson, the CEO of EQ’s pension business, argues the results demonstrated a need for greater pension saver engagement, to cement the success of auto-enrolment in substantially increasing the number of those saving for later-life.

As Duncan explained: “Auto-enrolment has revolutionised pension saving for millions of Brits who are now participating in their workplace scheme due to the opt-out system now in place.

“It is evident, however, pension saving is still not on the radar of many people, even if they are actually making contributions to their retirement fund.”

Previous EQ analysis of ONS figures found preserved capital in defined contribution pensions has surged since the advent of auto-enrolment, indicating many employees could face trouble in the future tracking down various pension pots from different jobs or as a result of failing to update contact details.