A new report by the Pensions Policy Institute (PPI) suggested that although the personal accounts scheme could help to increase savings, the success of the reforms depends on employers and their employees.

Niki Cleal, director of the PPI, said that although the number of people saving in pensions is expected to rise “substantially”, the actual amount of money saved may not necessarily increase.

“This depends on how employers with existing pension schemes respond to the additional costs that they may face due to automatic enrolment,” she remarked.

Last month, Legal & General reported that half of those surveyed would choose to remain in a personal account when they are launched in 2012.

The firm noted that one-third of respondents would look to opt out, while one in five were unsure about what they would do.

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