Laura Suter: Is auto-enrolment for everyone a good idea?

'Balancing act'

clock • 3 min read

As the government considers expanding the auto-enrolment programme to young people and lower earners, Laura Suter asks whether the policy is a good idea...

The government is currently looking at proposals to expand auto-enrolment so that everyone is eligible, from 18-year-olds in part-time work to people working multiple jobs that are each below the current £10,000 threshold. In principle the plans make sense. They are threefold. First, to reduce the age you're entitled to auto-enrol from 22 down to 18; second, to reduce the current £10,000 earnings trigger for auto-enrolment eligibility down to zero; and third, get rid of the qualified earnings bands, which mean that currently you only get contributions on earnings between £6,240 to £50,27...

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.

Join

 

Already a Professional Adviser member?

Login

More on Retirement

Cost of living driving uptick in overseas retirement considerations

Cost of living driving uptick in overseas retirement considerations

Two-in-three Brits approaching retirement have considered moving

Mark Battersby
clock 02 December 2022 • 2 min read
Retirement plans falling by the wayside amid cost of living adversity

Retirement plans falling by the wayside amid cost of living adversity

Survey shows many pre retirees are considering working in retirement

Hope William-Smith
clock 14 November 2022 • 2 min read
Only 1/4 advisers confident of meeting clients' retirement goals

Only 1/4 advisers confident of meeting clients' retirement goals

Advised investors less pessimistic about their retirement prospects

Ayesha Venkataraman
clock 31 October 2022 • 3 min read