Increasing reports of employers coaxing staff to opt out of pensions

Significant rise in complaints last year, with watchdog called on to ‘punish’ wrongdoers

The number of complaints received by the pensions watchdog accusing employers of attempting to get staff to opt out of saving for retirement increased by 68 per cent last year, new figures have unveiled.

The data, obtained through a freedom of information (FOI) request, revealed The Pensions Regulator (TPR) received 64 reports between 1 April 2017 and 31 March 2018 alleging employers had attempted to induce employees to opt out of their pension scheme, up from  38 in the year before. 

The 2017-18 figures also represented a fivefold increase from the 12 complaints received about such allegations in 2015-16.