The Department of Work and Pensions (DWP) has revised its forecast for the number of employees opting out of auto-enrolment pension schemes.
DWP originally predicted opt-outs of 30%. Now, based on figures of employees opting out of the largest auto-enrolment schemes, which are just 10% to date, the DWP is now predicting only 15% of employees in entities of all sizes will opt out.
If the prediction is accurate, 1 million more people will remain enrolled onto work pension schemes due to auto-enrolment than previously thought, taking the total to 9 million. However, this may well be revised again when minimum contributions increase in 2017.