The government does not need to increase minimum pension contribution levels as getting people voluntarily saving more for retirement is already possible and will only get easier as pension pots grow in size, it has been claimed.

The message, delivered by Hargreaves Lansdown, is based on new analysis of over 44,000 workplace pension members from the company’s Workplace Pension product. This has shown that over 50 per cent of them have already voluntarily chosen to increase their contributions.

The provider’s study into pension saving behaviour has also shown that a tendency to contribute more increases with age. Sixty-one per cent of those aged over 50 pay more, compared to 36 per cent of this aged under 30. In addition, people are more than twice as likely to pay in more if their pension pot exceeds £10,000 as those with a pension of less than £5,000.

Hargreaves Lansdown has also said that getting people interested in their investments usually brings far deeper levels of engagement. Seventy per cent of those who have chosen their own investments have also increased their contributions. In contrast, only 45 per cent who remain in the default fund have decided to put more money away.

The company was also told that savers still value human interaction. 42 per cent of people increase their contributions where they have not met with someone personally, but this jumps to 66 percent of those who have taken up the offer of a face-to-face meeting.

Hargreaves Lansdown senior analyst Nathan Long, said: “Minimum pension contributions are not enough for most to retire in comfort, but the government needn’t be pressured into forcing these levels up. Getting people voluntarily saving more for retirement is already possible and will only get easier as technology improves and pension pots get larger.”

“Forward looking employers are already providing workplace financial education and incentivising staff to pay more by matching what they will pay in themselves. Rather than force up minimum contributions the government and employers should focus on what engages staff to voluntarily pay in more.”

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