Pensions - Articles - Pensions Minister commits to AE Review proposals

 “We’re delighted that the Pensions Minister has recommitted to implementing the proposals recommended in the 2017 Review of Auto-enrolment. Auto-enrolment has become the norm for many employees, but some groups, such as the under 22s, have been excluded and are missing out on a valuable employer contribution. Widening the scope of auto-enrolment by bringing down the age trigger from 22 to 18 will bring many more thousands of young employees into workplace pensions, provided they earn £10,000 a year.

 “Removing the lower earnings limit so that pension contributions can be calculated from the first pound earned, will automatically enable employees to save more and benefit from a higher employer pension contribution helping them to build up larger pensions.

 “The mid-2020s are fast approaching and realistically there is still a lot of work to be done before these can be implemented including building consensus, especially against a backdrop of increasing national insurance contributions from April 2022 for both employers and employees.

 “If the changes are to be effective from the mid-2020 the work needs to start now to build a consensus, agree a timeline and draft the legislation to make this happen.”
   

 Parliamentary Question