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1699325
registered interest false more like this
date less than 2024-03-27more like thismore than 2024-03-27
answering body
Department for Work and Pensions more like this
answering dept id 29 more like this
answering dept short name Work and Pensions more like this
answering dept sort name Work and Pensions more like this
hansard heading Workplace Pensions: Private Sector more like this
house id 2 more like this
legislature
25277
pref label House of Lords more like this
question text To ask His Majesty's Government what assessment they have made of the report from the Institute for Fiscal Studies that around 3.5 million private sector employees do not pay anything into their pensions in a given year, and what they will do to address this. more like this
tabling member printed
The Earl of Effingham more like this
uin HL3668 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2024-04-08more like thismore than 2024-04-08
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>
answering member printed Viscount Younger of Leckie remove filter
question first answered
less than 2024-04-08T15:11:15.323Zmore like thismore than 2024-04-08T15:11:15.323Z
answering member
4169
label Biography information for Viscount Younger of Leckie more like this
tabling member
4958
label Biography information for The Earl of Effingham more like this