Brits could miss out on £28k in retirement funds as workers opt out of pension schemes to save cash

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City AM

By Jack Mendel Brits could miss out on almost £30,000 in retirement funds after a near 30 per cent spike in workers opting out of pension schemes. With inflation nearing double digits and the UK in recession, new figures released by pension provider Penfold showed those pausing contributions could cost new entrants into the workforce up to £28,000. Savers have decided to withdraw contributions to funds in a bid to cut back expenses amid inflation reaching a 40-year high and interest rates were raised. The number of savers opting out of company pension schemes increased 29 per cent from March t…

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