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Debate between Lord Harrington of Watford and Thangam Debbonaire
Monday 27th March 2017
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(7 years, 3 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Thangam Debbonaire (Bristol West) (Lab)
The Fawcett Society found last year that 25% of women over 30 are saving nothing for retirement, compared with 15% of men. What does the Secretary of State think is responsible for that, and what is he doing to change it?
The Parliamentary Under-Secretary of State for Pensions (Richard Harrington)
Automatic enrolment was designed specifically to help those who were under-represented in pension savings, including women. With the current rate of £10,000 a year, 70% of the new people coming into the system in 2017-18 will be women.