UK Gov't Monitoring Virus Impact On Workplace Pensions

Law360, London (July 30, 2020, 5:30 PM BST) -- The U.K. government said it does not yet know how many Britons reduced their pensions contributions or stopped saving amid the financial fallout of the coronavirus crisis and it is still monitoring the damage.

Parliamentary Undersecretary for Work and Pensions Guy Opperman said Tuesday that the department is still working towards collecting sufficient data to understand how badly the COVID-19 crisis hit savers' pension pots in the U.K.

"We are monitoring the impacts of COVID-19 on workplace pension participation and saving levels and are working closely with the pensions industry and across government to understand the impact of the emergency," Opperman...

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