Frank Field Calls For Auto Enrolment Review To Be “Bold”

20 December 2017

Auto Enrolment Review There's no doubt that auto enrolment has been a huge success since its introduction in 2015. Speaking at a recent Work and Pensions Committee meeting in the House of Commons recently, the current secretary of state for work and pensions David Gauke said that it had "rebuilt the UK's savings culture".

He said: "For an entire generation of people, workplace pension saving is the new normal. And my mission now is to make sure the next generation of younger workers have the same opportunities."

"Because of its undoubted success in getting millions of more people saving for their retirement, the government has been conducting a review as to how it can be expanded to include even more working people. One of the suggestions that will be acted on from the review will be the inclusion of younger people in auto enrolment. Currently, the only eligible staff over the age of 22 can be auto enrolled, but by the mid-2020s, this will be lowered to the age of 18."

However, whilst Frank Field, chair of the Work and Pensions Committee has hit out at the current review saying that it does not go far enough.

Mr Field said: "Auto-enrolment was a bold leap by the government which has been hugely successful in getting millions of people to start saving in pensions. But this review shows none of that boldness in announcing a few minor tweaks and tentative pilot schemes."

Mr Field added: "The analysis accompanying the report shows 12m people are under-saving for retirement, including a growing army of the self-employed. It is time for the Government to revert to bold type in building on its past successes."

  • Author Profile
    • Sp avatar Brett Cranfield

      Brett Cranfield, previously a Private Banking Manager for the UK Wealth division at Lloyds Banking Group, he managed a diverse portfolio …