On March 3, 2023, the Department for Work and Pensions (DWP) published a press statement to announce that it will support the so-called „Jonathan Gullis MP’s Private Members Bill“ (Pensions (Extension of Automatic Enrolment) (No. 2) Bill) whose key provisions would result in
– the reduction of the age limit to 18 years for becoming automatically enrolled in occupational pension schemes; and
– the elimination of the „lower earnings limit“ below which employers do not have to enroll their staff into such schemes so as to ensure enrollment from the first pound earned.
According to the DWP, the passing of this bill and subsequent implementation of the measures would truly facilitate retirement savings at an early age and would help prevent poverty at an old age.
Government backs bill to expand pension saving to young and low earners
ID
22141
Other Features
pension funds
Date Published: 2023-03-03
Regulatory Framework: Pensions Act 2008
Regulatory Type: information
ID 25907
Various UK government agencies recently published a statement in which they announce targe ...
ID 25693
The Department for Work & Pensions (DWP) has published revised forms in relation to i ...
ID 25191
The Department for Work & Pensions (DWP) has published a revised version of its Bulk ...
ID 24607
The Department of Work and Pensions (DWP) has published an updated version of its Pensions ...
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