One of the most important changes that the Coalition Government is implementing is the auto-enrolment of millions of employees into new workplace pensions. This will start later in the year for workers in some of our biggest companies and will be complete by 2017. For the first time, many people will be saving for their retirement. Although, the media focus on the headline news about the increase in State Pension Age, this change is even more important.
Today, I spoke at a forum organised by the National Association of Pension Funds about some of the challenges that face both policy makers and the pensions industry to encourage people to make an adequate provision for their future retirement. Many, particular younger people, may think pensions is extremely dull but making sure we all save for the future is probably one of the most important issues facing goverment at the moment. You can read what I had to say here, as well as the excellent report launched by the Pensions Policy Institute outlining how paricular factors have a big impact on the pension you eventually receive.
9th February 2012