On the affordability scale it is likely that young workers are more likely to opt out of an auto-enrolment scheme.  In the six-month period between April and September 2020 there were no significant changes.  It has to be pointed out that if you cease to save into the workplace pension scheme then you will not get the contributions from the employer.

A NEST spokesman has said that whilst the opt-outs are relatively small from 8% in March to 11% for the next six-month period, it is worrying that that going down this route is foregoing a matched contribution from the employer and also miss out on the savings boost provided by pension tax relief.

It is apparent that the young (those under the age of 35) are suffering more financially as a result of lockdown.  Although times are tough for lots of people, quitting your workplace pension scheme should still be viewed as a last resort.

Before taking this drastic step it would be worth looking at your budget to see if there are any savings you can make.  You should also note that if your salary has decreased as a result of furloughing then your auto-enrolment contribution will also decrease.  You pay a percentage of your salary so if this changes then your contribution will also change.