Britons enrolled in a workplace pension could see their savings grow by 30% this year as a result of mandatory increases to minimum contribution levels.
Minimum contributions have been set at 2% of earnings since the introduction of pension auto-enrolment in 2012, but this is set to rise to 5% next month, with employers required to pay 2%.
Analysis by insurance firm Aviva shows how this could see workers on an average salary of £26,572 adding £840 to their pension pots this year, up from the £600 saved in 2017.
"Saving via a workplace pension is one of the rare times in life when doing nothing pays," Aviva corporate managing director, Andy Curran, said.
"Savers can benefit from their employers topping up their savings and receive the added peace of mind that comes from knowing they are contributing to their long-term financial health."
In addition to the savings boost expected in 2018, the research shows how the new minimum contribution rates could double workers' overall pension pots in retirement.
It reveals how employees that started saving in 2012 via auto-enrolment on an average salary could currently expect to have a total of £30,000 when they retire.
However, with the increased contributions of 5% from April onwards, they could benefit from a £36,000 boost, more than doubling their total pension fund to £66,000.
And with contributions set to rise to 8% in 2019, the same saver would have £101,000 at retirement, more than tripling the amount they would have under current contribution levels.
"While the changes mean employees will also need to increase contributions from their own pay packet, making a small sacrifice now can add up to a big difference," Curran continued.
"Auto-enrolment has been an incredible force for good since its introduction in 2012 with more people than ever before now contributing on a monthly basis towards their retirement.
"If as a society we are to avoid a retirement savings crunch further down the line, we must go further still in the years to come."
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