Auto-enrolment (AE) is going to need an 'elevator pitch' - a short and persuasive sales message - if it is to overcome the future challenges of consumer engagement, Aberdeen Asset Management head of retirement Gregg McClymont told the Aviva AE Pre-Review Summit.
The event coincided with the publication of Aviva's Pre-Review of auto-enrolment, which was carried out ahead of the government's own upcoming review and included the group's "10 steps to AE success". These cover four different aspects of potential reform: adequacy, scope, consolidation and engagement. In it, Aviva argued the total auto-enrolment contributions - that is, from employer, employee and tax relief - should be phased up to reach a minimum of 12.5% by 2028. The group also called for the adoption of a flat rate of tax relief, rebranded as a 'savers bonus' to aid consumer unders...
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