Spike in residents saving for retirement

Figures released by The Pensions Regulator shows that the introduction of auto-enrolment has led to nine million people in the UK starting to save for their pension.

Across the south east, 128,250 more people are now making these savings.

Gosport MP Caroline Dinenage believes that this auto-enrolment scheme has become the ‘new normal’ since its inception – and that small businesses have found the scheme to be ‘necessary and sensible.’

Ms Dinenage said: ‘By introducing automatic enrolment, we’re transforming the way people save for retirement.

‘That means more families can plan for the long-term with the security of a pension.

‘For a whole generation, workplace pension saving is now the new normal, but there’s more to do to help more people than ever before build an enjoyable and secure retirement.’

For more information go to thepensionsregulator.gov.uk.