Report: How the UK saves 2018

This report explores the choices, demographics, behaviours and likely outcomes of the nearly 6.5 million people using the National Employment Savings Trust (NEST).

Key findings

• 92 per cent of active NEST members have been automatically enrolled, while more than 250,000 people chose to opt into the scheme voluntarily.
• Adjusting for earnings, women have higher contributions and higher corresponding balances than men. This is particularly true for workers on low incomes.
• As at 31 January 2018, 93 per cent of employers had enrolled workers at the then-statutory minimum of 2 per cent total contribution rate. Small and micro employers dominate the 7 per cent of companies enrolling workers at a higher rate.
• Ninety-nine per cent of members are invested in NEST’s default investment strategy. Switching activity is low, with fewer than one per cent of members changing their investment options in 2017.

This research was carried out by Nest Insight and Vanguard. It represents one of the most extensive studies of retirement savings in the UK.

Supplied by REBA Associate Member, Nest

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