Gov't Urged To Hike Minimum Pension Contributions

Law360, London (March 25, 2021, 12:06 PM GMT) -- The government has come under pressure to increase the minimum amount that workers are required to contribute to workplace pension schemes, as a lobby group said on Thursday that the U.K. offers the worst levels of retirement income among developed countries.

The Investing and Saving Alliance said that Britain ranks last among the 37 countries that are part of the Organisation for Economic Co-operation and Development in a measure of retirement income known as the net replacement rate.

The rate measures the extent to which income in retirement matches the income during a person's working life: in Britain it is just...

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