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<p>Automatic Enrolment (AE) has transformed participation in workplace pension saving.
More than 11 million workers have been automatically enrolled into workplace pensions
to date, with the participation rate of eligible employees in the private sector increasing
from 42% in 2012 to 86% in 2022. Over £115bn was saved into workplace pensions for
eligible individuals in 2022.</p><p> </p><p>Expanding AE to younger people and helping
all eligible workers save from the first pound of earnings will boost overall saving
levels, once fully implemented, by an extra £2 billion a year in pension contributions.</p><p>
</p><p>The Pensions (Extension of Automatic Enrolment) Act 2023 provides the necessary
powers to deliver the expansion of AE.</p><p> </p><p>We are committed to implementing
these measures in the mid-2020s. We intend to carry out a consultation on the detailed
implementation at the right time. We will report to Parliament before using the powers
in the Act.</p>
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