Oral Answers to Questions Debate

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Department: Department for Work and Pensions

Oral Answers to Questions

Nick Smith Excerpts
Monday 9th March 2020

(4 years ago)

Commons Chamber
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Guy Opperman Portrait Guy Opperman
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As a formerly very fat, self-employed jockey and a self-employed white-collar barrister, I fully appreciate the issues concerned. I agree with my right hon. Friend that these are issues we have to address. He will be aware that we are trialling self-employment matters on an ongoing basis with the National Employment Savings Trust and a variety of private sector organisations. We welcome unions and other organisations that wish to be part of that, and it is front and centre of what we are trying to do.

Nick Smith Portrait Nick Smith (Blaenau Gwent) (Lab)
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Too many young people do not save for their pensions, so how can the Minister ensure that young workers are better represented in workplace pension schemes?

Guy Opperman Portrait Guy Opperman
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The statistics are actually getting better by the minute. In 2012, only 35% of young people aged between 22 and 29 saved into a workplace pension. Now 85% of 22 to 29-year-olds save, but there is more we can do, including for the self-employed. The 8% that is being saved has made a transformational difference, and the opt-out rate among the young is the lowest of all the cohorts.