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?
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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