Savings Body Urges Increase In Enrollment Contributions
By Irene Madongo (September 29, 2021, 3:05 PM BST) -- The Pensions and Lifetime Savings Association has called on the government to raise automatic enrollment contributions and cut the age at which people are automatically signed up to pension plans, ahead of the government's forthcoming Budget and Spending Review.
The industry group for pension schemes has given its backing to automatic enrollment but said more needs to be done to secure a better future for savers, according to its recommendations to HM Treasury that it released on Tuesday.
Automatic enrollment requires employers to deduct contributions from their workers' pay and submit these together with their contributions to the employee's pension scheme.The...
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