The Works and Pensions Committee completed a review in 2017 of both the outcome of the pension auto-enrolment process and its effectiveness.
These proposed changes will clearly bring people earlier into retirement saving and mean that even lower earners can save considerably more for their future (supported by employers having to legally match this contribution) to help ensure they achieve more realistic pension income levels at retirement.
Andy Eason is the Head of Employee Benefits and explains in this article in The Press & Journal, the main implications and changes that Employers need to be prepared for to extend their offering of workplace pensions to a broader employee base.
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The content within this article is based on the opinion of Andy Eason, Head of Employee Benefits and should not be looked upon as advice or recommendation. Readers should seek appropriate guidance from their employee benefits consultant.
Published in The Press and Journal Monday 13th March 2023.