Providers warn DWP must monitor 'true' opt-out rate

The DWP is communicating with the largest employers to collate data on initial opt-out rates among firms already staging, and will publish a report on indicative levels of participation this summer. However, BlackRock defined contribution director Paul Gilbody (pictured) has urged the DWP to focus on employees who miss their opt-out window but, after seeing contributions deducted from their pay packets, stop contributions while remaining in their schemes. "We are getting hung up on what the opt-out will be, which we need to watch," Gilbody said. "We should congratulate ourselves if...