The introduction of auto-enrolment from October will help to “break the savings stalemate” as workers increasingly look to benefit from employer contributions according to the Association of British Insurers (ABI).

A survey conducted by YouGov of 2,500 adults aged 18 to 70 on behalf of the ABI, revealed that 47 per cent of respondents saw employer contributions as an attractive element of auto-enrolment and also 14 per cent highlighted the benefits of tax relief on contributions.

Furthermore, findings showed that 53% of workers currently not part of a workplace pension plan said that they will remain 'opted-in' with an additional 30% still undecided.

ABI acting director of life, savings and protection Maggie Craig commented: “It’s encouraging to see a significant amount of people already recognising the value of the incoming auto-enrolment into pension schemes and we are pleased the government has today announced a clear timetable for its roll-out.

“Around half of workers are either not saving into a pension or not saving enough, so auto-enrolment will give many people the much needed nudge to save for their retirement and break the ‘savings stalemate.’

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