Only 8% of Asda employees opt-out
According to the supermarket giant only 8 per cent of its eligible workforce opted-out of the new rules on pension enrolment. Asda was one of the first UK employers to reach it’s staging date.
According to Asda the helpline they set up got calls from about 3% of the workforce during the opt-out period. Asda had conducted a comprehensive communication programme designed to explain the changes and emphasise that this was not a pay cut.
This level of opt-out is well below the 20-30% predictions we have seen. Only last month the consultants to the largest employers who had reached their staging date were quoting opt-out rates of up to 10%.