British workers could be losing out on up to £3 billion a year in employers pension contributions. Research from AXA has found that one in four people haven't joined a company pension scheme that is available to them. Around 5.1 million workers in Britain have not or will not join a company pension scheme. Only 2% of non-members believe that they will be able to rely on the state when they retire, compared to 55% of members who are confident of a comfortable retirement.
Eleven per cent of non-members say that they cannot afford to join, 7% say they are too old so there is no point, and 7% say they don't know how to join or have received no information on how to do so.
Our view
As we have said hundreds of times on this site, this is about educating people to understand that whilst 'live for today' is good, we all have to save a little for tomorrow and if you boss wants to give you FREE money in the form of pension contributions then snatch their hands of.