MP welcomes automatic pensions figures

Paul Maynard MP has welcomed new figures showing that, due to changes to workplace pensions, nine million more people are now saving for retirement.

These figures also show that 91,420 more people in work in North West England are now saving. Auto-enrolment was introduced so that more workers can save for retirement, and the Government plan means that workers can afford these changes.

He said the latest research shows that workplace pensions have become the ‘new normal’, while small businesses found a pension scheme for their workers to be ‘necessary’ and ‘sensible’.

Mr Maynard said: “By introducing automatic enrolment, the way people save for retirement has been transformed.

“That means more families can plan for the long-term with the security of a pension.

“For a whole generation, workplace pension saving is now the new normal, but there’s more to do to help more people than ever before build an enjoyable and secure retirement.”