The Conservatives have highlighted forecasts from the New Zealand Government, that their National Pension Savings Scheme equivalent could have an opt out rate of up to 75%. They have told Parliament that a high opt-out level could undermine the scheme and the entire package of reform, and called on the Government to give a firm level of opt-outs that it would consider a success for its own personal accounts scheme, and what level would lead to a review of the way it was run.
The New Zealand Government is aiming for 25% of people to remain auto-enrolled compared to the UK's White Paper target of between 50% and 80% of the 10 million that will be eligible.
Our view
The opt out rate will very much depend upon what existing provision is in place. The Tories asking the Government to pin themselves down on numbers is merely a means for political gain to be used in future and has nothing to do with assisting the welfare needs of this country.