Richard Holden MP Continues Campaigning to Extend Pensions Auto-Enrolment to All Workers Age 18+ and Those in Long-Term and Part-Time Employment
Richard remarks that: "With my apprenticeships fair at the excellent Derwentside College coming up this Friday 11am-4pm - come along if you can - I continued to push my campaign to extend auto-enrolment of pensions to more people in the workforce.
"At the moment only those aged over 22 are eligible if they earn over £10,000 a year. This excludes many young and part-time workers - especially women - from schemes and leaves many of them less well off in retirement. I’m determined to see this change.
"Obviously people can opt out if they do wish but with employees putting in just 50p for every £1 they get out because of a combination of employer contributions and tax relief, it’s a no brainer for those looking to save for the long-term.
The best thing about the policy is that if enacted, all apprentices would get it too - meaning they start saving (a little bit) as soon as they start work. But because they’ll have up to 50 years of compound interest, the difference it could make to their retirements is substantial, helping a lot alongside the state pension."