The option seems to be broken at the moment, as it doesn’t work for me. 
This is sure to come. Remember, this game is at its very infancy right now.
If you go into Settings > Multiplayer, I believe there is a checkbox that lets you enable or disable this.
Even while the box is left unchecked, there is still voice chat. Weird. I updated the name.
Most of the options don’t even save (at least for me). I’ll probably be fixed eventually.
Edit: By “most”, I mean that FOV and Voice Chat didn’t save.
Everything seems saved to me.
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