Oral Answers to Questions
Debate between Julian Knight and Justin Tomlinson(9 years, 5 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Julian Knight (Solihull) (Con)
1. What assessment he has made of the effects of automatic enrolment on private sector pension saving.
The Parliamentary Under-Secretary of State for Work and Pensions (Justin Tomlinson)
More than 5.2 million workers have been automatically enrolled in a workplace pension by their employer to date. Since the start of automatic enrolment, workplace pension membership in the private sector has risen from 32% in 2012 to 49% in 2014, a very positive start.
Julian Knight
With 135,000 firms set to auto-enrol their employees from January, does my hon. Friend agree that the work of non-governmental groups such as the Solihull-based Chartered Institute of Payroll Professionals is key to the successful delivery of auto-enrolment and to meeting the savings challenge of 11 million Britons who are currently failing to put enough away for their retirement?