The NEST members' panel is calling on the government to start reducing the £10,000 auto-enrolment (AE) earnings threshold, before the move to start contributions from the first pound earned.
The Panel - which was set up by the Pensions Act 2008 to give a voice to NEST members - is due to send its annual report to Department for Work and Pensions' (DWP) secretary of state Thérèse Coffey, which will include the call for this change. In the AE review in 2017, the government noted its intention to change the framework for AE so that pension contributions are calculated from the first pound earned, rather than from a lower earnings limit, which currently sits at £6,136. It said it would likely not do this until the mid-2020s, but it is arguable that the upcoming general electi...
To continue reading this article...
Join Professional Adviser
- Unlimited access to real-time news, industry insights and market intelligence.
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters.
- Make smart business decisions with the latest developments in regulation, investing retirement and protection.
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes.