Care England -
This paper (produced together with Caunce O’Hara Insurance Brokers Ltd (COHIBL)) addresses the critical issue of high pension opt-out rates within the UK care sector, where more than 1.5 million employees provide essential services to vulnerable populations. Despite the success of auto-enrolment in increasing pension participation across various sectors, the care sector exhibits a higher rate of opt-outs. This trend poses significant risks to the long-term financial security of care workers, many of whom already face challenges related to low wages, job insecurity, and a lack of financial literacy. The paper sets out clear recommendations for reducing pension opt-outs.