Occupational Pensions
(asked on 12th June 2014) - View Source
Question to the Department for Work and Pensions:
To ask the Secretary of State for Work and Pensions, how many people have fallen below the auto enrolment threshold in each year since that policy was introduced.
Under the Pensions Act 2008, the automatic enrolment earnings trigger is reviewed by the Secretary of State every year, and revised if necessary. Since automatic enrolment was introduced in October 2012, two annual reviews to the trigger have been conducted. The table shows the impact of changes to the earnings trigger.
Earnings trigger revised | Number of individuals in eligible target group excluded | |||
From | To | |||
2012/13 | £8,105 | 2013/14 | £9,440 | 420,000 |
2013/14 | £9,440 | 2014/15 | £10,000 | 170,000 |
Table 1: Impact of changes to the automatic enrolment earnings trigger in each of the two annual reviews since the policy was introduced.
Note: The figures refer to the eligible target group in the private sector. This includes individuals aged 22 to the State Pension age who earn above the earnings trigger and are not in a qualifying pension scheme.