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
Signup and gain exclusive members-only insights
- 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.
