A decade of auto-enrolment: Has it helped or hindered saving psychology?

aegon.co.uk @aegonuk Aegon UK Aegon UK Aegon is a brand name of Scottish Equitable plc (No. SC144517) and Aegon Investment Solutions Ltd (No. SC394519) registered in Scotland, registered office: Edinburgh Park, Edinburgh, EH12 9SE. Both are Aegon companies. Scottish Equitable plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Aegon Investment Solutions Ltd is authorised and regulated by the Financial Conduct Authority. Their Financial Services Register numbers are 165548 and 543123 respectively. © 2022 Aegon UK plc. CORP393937 12/22 Methodology Unless otherwise stated, all research and figures referred to are based on a survey of pension attitudes and behaviour carried out by Opinium between 30 June to 4 July 2022 on behalf of Aegon, weighted to be nationally representative among a sample of 2,000 UK adults. Financial wellbeing findings are based on research conducted with 10,021 UK residents. The research was carried out online by Aegon’s Centre for Behavioural Research in August and September 2021. The study was nationally representative in terms of location, age and gender. References 1 The Pensions Act, 2008. Data source, legislation.gov.uk. Published November 2008 2 Automatic Enrolment evaluation report 2019 Page 4. Data source, Department for Work and Pensions. Published February 2020 3 Workplace pension participation and savings trends: 2009 -2020 Table 3.1: amount saved. Data source, Department for Work and Pensions. Published September 2021 4 Automatic Enrolment evaluation report 2019 Page 57. Data source, Department for Work and Pensions. Published February 2020 5 Automatic Enrolment: What will the next decade bring? Page 3. Data source, Association of British Insurers. Published June 2022 6 UK Onward report: Levelling up pensions to boost savings Page 4. Data source, UK Onward think tank. Published January 2022 Measuring-the-ethnicity-pensions-gap.pdf (thepeoplespension.co.uk) Data source, thepeoplespension.co.uk. Published January 2020 2022 WOMEN & RETIREMENT REPORT (scottishwidows.co.uk) Data source, Scottish Widows. Published October 2022 7 Getting retirement right: Plan, prepare, enjoy Page 11. Data source, The Investing and Saving Alliance. Published June 2020 8 Hansard Pension Gender Gap Debate House of Lords Data source, UK Parliament. Published July 2021 9 Gender pay gap in the UK: 2021 Data source, Office for National Statistics. Published October 2021 10 Automatic Enrolment: What will the next decade bring? Page 8. Data source, Association of British Insurers. Published June 2022 11 Pension wealth in Great Britain Data source, Office for National Statistics. Published December 2019 12 ILC (2021) Slipping Between the Cracks? Retirement Income prospect for Generation X Page 18. Data source, The International Longevity Centre. Published March 2021 13 Getting retirement right: Plan, prepare, enjoy Page 43. Data source, The Investing and Saving Alliance. Published June 2020 14 Getting retirement right: Plan, prepare, enjoy Page 42. Data source, The Investing and Saving Alliance. Published June 2020

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