Millions more people are now saving into a workplace pension because of automatic enrolment. However, opportunities to improve the retirement savings system remain.
Since auto enrolment’s introduction the PLSA has been building a case for a pensions framework that can help everyone achieve an adequate income in retirement. This includes ground-breaking initiatives, research and policy work including the Pension Quality Mark, Retirement Living Standards, Retirement income adequacy: Generation by generation, Hitting the target and Guided retirement income choices. But there’s more to be done.
THE CHANGE WE WANT TO SEE
The PLSA has been calling on the Government to increase contributions and improve savings among people who are excluded from automatic enrolment. The PLSA also supports the DWP’s proposals to reduce the qualifying age for automatic enrolment and ensure that savings should begin from the first pound of earnings.
We will continue our work to ensure a better pensions framework becomes a reality.