So Corporate advisers think that one-third of under 35 year olds could opt out of pension auto-enrolment?

http://www.pensions.co.uk/news/2012/Feb/one-third-could-opt-out-of-pension-auto-enrolment.html#.TzEEwuk79VI.twitter

I'm left thinking how could they possibly know that? Clearly they don't and therefore it is one of those stupid figures that is as meaningful as asking me to predict how many medals Team GB will win at this year's Olympics. I could guess but that's all it would be.

But let's follow this through; suppose they are right, what then?

In my mind the answer is simple – the ability to opt out will be removed or changed in some way. Let's be honest the whole 'opt out' provision was probably only put in to avoid the legislation being blocked in the first place.

Another very real concern is if employees are 'influenced' in anyway by their employer not to join. I understand that the Pension Regulator will rightly be keeping a close eye on this one and Directors can be fined for breaches of this kind.

Psychologically, the whole point of automatic enrolment is to counter the apathy that is shown by people that don't join a scheme that is available to them. Many don't join a pension scheme because they never get around to doing so. Therefore the logic of being automatically put in to a pension is that if people never get round to joining then they won't get around to leaving!!

Individuals need to start engaging and more importantly saving for their retirement. The whole aging population thing is not a myth, it is happening and there is a very real prospect that people will 'exist' into old age rather than live. Iona Didley bears testimony to that!!!

To see Iona Didley go to http://youtu.be/mXw3uB2bH0c