Helping people save for retirement

10 million people have been auto-enrolled into a workplace pension, meaning they can look forward to a more secure future and a better retirement.

The milestone confirms the phenomenal success of our revolutionary reform requiring employers to enrol eligible workers into a workplace pension scheme. Attitudes towards workplace pension saving are positive and, thanks to automatic enrolment, pension saving is becoming normal. Saving behaviour is sticking: the first increase in minimum contributions which took place last year has not prompted people to stop saving.

With record numbers investing in their retirement, we are introducing a number of additional protections for savers. We have already unveiled proposals to deliver ‘pensions dashboards’, providing all the facts and figures about someone’s pension savings in one place online.

Before we introduced auto-enrolment, workplace pensions were seen as the preserve of older, wealthier people. Now saving is the norm across the UK, wherever you work, and we are aiming to reach even more people, bringing in younger workers and enabling everyone, particularly part-time and lower earners and the self-employed, to save more.