HOPE FOR PENSIONS

Yesterday’s front page headline ‘15m workers don’t pay into pension’ painted a bleak and unfair picture.

People not saving for retirement has undoubtedly been a challenge but thanks to automatic enrolment this downward trend has been reversed. In fact over 8.7 million eligible employees have been enrolled.

Of course there is more to do which is why contributions will rise to 8% in 2019 and we are carrying out our Automatic Enrolment Review.

I want to reassure workers that while we all need to be planning for our retirement the future is bright.

With more people saving earlier with support from employers many will be looking at a more independent, financially secure retirement underpinned by a fair and sustainable state pension. Guy Opperman Minister for Pensions and Financial Inclusion