Alistair McQueen, Savings & Retirement Manager at Aviva, comments on today’s ONS report on pensions in the tourism industry -
“Pensions in the tourism industry have gone on holiday. New pension figures from the Office for National Statistics show a pensions crisis in the UK’s tourism industry. 2.3 million people work in tourism in the UK, but median pension savings in the sector are reported to be “£0”. Only 31% of workers in the sector have any private pension savings – the lowest in the 11 sectors analysed. The financial and insurance sector reports the highest rate, at 71%.
“Automatic enrolment is the vehicle for encouraging pension participation amongst workers in the UK. It has been a huge success, bringing nearly 7 million people into pensions, but lower incomes and part-time working may be leaving the tourism industry behind.
“The government will review automatic enrolment in 2017. It has been a revolutionary success since its introduction in 2012, but Aviva wants to ensure it continues to be a system that works for everyone, including those in tourism.”
ENDS
If you are a journalist and would like further information, please contact:
Aviva Press Office: Fiona Whytock: 07800 692 299 or fiona.whytock@aviva.co.uk
Aviva’s retirement spokesperson, Alistair McQueen, is available for comment/interview
Notes to editors:
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