Personal Savings
The question
To ask the Chancellor of the Exchequer, whether the Financial Inclusion Strategy will introduce auto-enrolment for savings.
Answered by Lucy Rigby
The Financial Inclusion Strategy will be published later this year and will seek to tackle a range of barriers which prevent individuals from accessing the financial services and products they need.
The Government has convened a Financial Inclusion Committee to inform the development of the strategy. The Committee has met three times, and a summary of those meetings is available on GOV.UK.
Savings has been one of the areas of focus for the Committee. As part of this work the FCA have recently published a statement on payroll savings, which gives employers and savings providers the clarity and reassurance that workplace savings schemes can be successfully set up and implemented to comply with current rules and legislation.
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