| answer text |
<p>Automatic Enrolment has already seen more than 11 million people enrolled into
pension saving to date, with around an additional £29 billion in real terms saved
into workplace pensions in 2021 compared to 2012.</p><p> </p><p>Automatic Enrolment
(AE) is and will continue to be based on the principle of extending saving to as many
people as possible for whom it makes sense to save. We remain committed to increasing
the number of employees who are saving, through implementing the AE 2017 Review measures
to lower the age for being automatically enrolled to 18 and abolishing the lower earnings
band for workplace pension contributions, which will disproportionately benefit lower
earners, giving them access to an employer pension contribution for the first time.
This will see 3 million people saving £2 billion extra a year.</p><p> </p><p>The Government
supported the Pensions (Extension of Automatic Enrolment) Act 2023 which gives us
the legislative powers to implement the expansion of AE subject to consultation. We
remain committed to doing this in the mid-2020s.</p>
|
|
