Member

The noble Viscount asked about opt-out rates. AE overall opt-out rates have not gone above 11% since the rollout of automatic enrolment, despite Covid and higher inflation. We can be really encouraged by that. This is a particularly important success of that policy, because pension outcomes, as noble Lords have said, are very much affected by how early you start saving, as I know to my cost now; I clearly should have started earlier, but sadly it is a bit late now.