Scottish Widows comments on the Tories proposals on auto enrolment

Introducing auto enrolment would go some way to closing the pensions savings gap Just 54% of those that could and should are saving adequately for retirement.

Just 54% of those that could and should are saving adequately for retirement.

Almost a fifth (19%) of those that could and should are not saving anything for retirement.

Andy Briggs, Managing Director, Scottish Widows comments on the Conservative's proposals to allow auto enrolment into existing pension schemes ahead of the introduction of personal accounts: "This is an issue we have been campaigning on for some time now.

While pensions savings levels are slowly improving there are still too many people not saving enough to provide for themselves in retirement.

Auto enrolment would really boost participation rates and savings levels amongst moderate earners, a group who are struggling to save enough for retirement.

"This week at the launch of our fifth annual women and pensions report we highlighted the benefits of bringing in auto enrolment ahead of personal accounts and believe this proposal could go a long way towards reducing the number of people not saving adequately for retirement.

Almost a fifth (19%) of people that could and should are saving nothing at all towards retirement.

It is positive to see these sorts of ideas gaining currency in the pensions debate so that more people are urged to save - and we are keen to work with all parties to ensure there is consensus on this issue.

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