Article Preview: Opting out of your workplace pension might seem like a good idea at the time. After all, by opting out, you see a little more in your pay packet each month, which will undoubtedly help with the ever-rising cost of living. But opting-out comes at a high cost in later life. According to new research, the over 60s are throwing away as much as £1.75bn in pension savings, through this simple act of opting out of a workplace pension. That’s according to insurer Royal London, who found that opt-out rates rose sharply for older savers, with almost one in four over 60s making this decision.
Are you throwing away your pension savings?
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This 496 word blog highlights the impact on your standard of living in retirement, should you choose to opt-out of a workplace pension. Written on 11th September 2019.
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