The Pensions and Lifetime Savings Association (PLSA) has today (Wednesday) commented on the Department for Work and Pensions (DWP) terms of reference for the 2017 automatic enrolment review advisory group.
The review will consider the success of automatic enrolment to date, and explore ways that the policy can be further developed.
Graham Vidler, Director of External Affairs, PLSA, commented:
“The PLSA welcomes the 2017 review of automatic enrolment and the appointment of a strong advisory group to oversee it. The review is an important milestone in the development of automatic enrolment and is an opportunity to think how an emerging policy success can reach its full potential. Based on its recent research, the PLSA believes that automatic enrolment minimum contributions should rise in the medium term to at least 12 per cent. The review is a great opportunity to further strengthen the evidence base and chart a course to a higher level of retirement savings”.
NOTES TO EDITORS:
We’re the Pensions and Lifetime Savings Association; the national association with a ninety year history of helping pension professionals run better pension schemes. Our members include over 1,300 pension schemes with 20 million members and £1 trillion in assets, and over 400 businesses. They make us the voice for pensions and lifetime savings in Westminster, Whitehall and Brussels.
Our purpose is simple: to help everyone to achieve a better income in retirement. We work to get more money into retirement savings, to get more value out of those savings and to build the confidence and understanding of savers.
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