Oral Answers to Questions

Debate between Gill Furniss and Mel Stride

Monday 5th February 2024 Commons Chamber

[Gill Furniss (Sheffield, Brightside and Hillsborough) (Lab)]

One of the simplest ways to get people saving for the future is by ensuring that they are enrolled in a pension scheme, but all too many are currently excluded from auto-enrolment, particularly women, who are twice as likely to miss out. The Government have known about this problem for years. They first proposed widening the criteria in 2017. Last year, thanks to a private Member’s Bill, the Minister was given the power to do just that, but still we have seen no update on when this will be implemented. Can the Secretary of State shed light on when these vital changes will take place?

[Mel Stride]

The hon. Lady draws attention to savings for women. I have already stated that 40% of women invested in workplace pensions back in 2012, and that has skyrocketed to 86% today. There are now 2.3 million employers providing pensions through the auto-enrolment route, and there is £29 billion more in workplace pensions in 2024 than was the case in 2012. The hon. Lady refers, I think, to the 2017 review, which I have already referred to. That is currently under review.