Workplace Pensions: Young People
The question
To ask the Secretary of State for Work and Pensions, what assessment she has made of the potential impact of extending pensions automatic enrolment to jobholders under the age of 22 on those people.
Answered by Torsten Bell
We are committed to ensuring people achieve financial security in later life.
That is why we prioritised the Pensions Investment Review and reforms in the Pension Schemes Bill – so that we can be confident savers automatically enrolled into workplace pension schemes can rightly enjoy the best possible outcomes.
Our assessment of the pensions system is that the job is only half finished. In August we published a detailed report with our analysis, including on Automatic Enrolment and those groups not benefitting from pensions or undersaving. Furthermore, we have revived the Pensions Commission to address these very matters of adequacy, fairness and sustainability, especially for lower earners.
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