Nest Insight, the public benefit research and innovation centre in the UK, published this week a very encouraging preliminary research findings from its trial of an opt-out, or ‘autosave’, approach to workplace emergency saving.

Launched in November 2021 in collaboration with employer SUEZ Recycling and Recovery UK and credit union TransaveUK, the trial examines whether making payroll saving the default enables more workers who want to build up an emergency savings pot to get started.

• Early data suggests 53% employee participation in emergency saving among those who experienced the autosave (opt-out) approach, compared to 1% among those who had to opt in to save.
• Autosavers have an average balance of around £130 in savings after 4 months, compared with an average balance of around £29 amongst opt-in savers
• No impact on pension saving participation