Workplace Pension Reforms: Baseline Evaluation Report
Millions of individuals in the UK are not saving enough for their retirement. The Workplace Pension Reforms are a response to some of the key challenges facing the UK pensions system.
Once fully implemented, the reforms aim to transform the culture of saving and increase the number of individuals newly saving or saving more in a workplace pension by around eight million, within a range of six to nine million, and increase the amount that is being saved in workplace pensions by around £11 billion a year within a range of £8 billion to £12 billion.
This baseline report is the first following the Workplace Pension Reforms Evaluation Strategy and aims to describe the landscape before implementation of the reforms. The report is structured around the eight key Evaluation Questions outlined in the Strategy. Subsequent reports monitoring the effects of the reforms will be published on an annual basis during implementation.