Govt reiterates commitment to reducing AE age limit

Pensions Minister Guy Opperman has reiterated the government’s commitment to reducing the automatic enrolment age limit from 22 to 18.

In an answer to a written question, Opperman said that the government’s ambition to lower the age limit would “enable more people to begin to save”.

He conceded, however, that employers, payroll and “other delivery partners” would need time to plan for the changes.

Employers would need time to “adjust to costs over the coming years” before the government’s proposed changes would be able to be implemented.

He added: “We also want to understand properly the impact of the April 2019 contribution increase before committing to a timetable for the proposed changes.”

The government initially announced its intentions as part of its 2017 Review of Automatic Enrolment, which stated: “We want pension saving to be the norm when people start work, and therefore want young people to benefit from automatic enrolment.”

Automatic enrolment contribution levels are set to rise in April, although recent government research found that many workers were unaware of the contribution increase.

The number of workers who have been automatically enrolled into a workplace pension scheme reached 10 million in January 2019.

    Share Story:

Recent Stories


FREE E-NEWS SIGN UP

Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.


The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.

In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.

Air and the role of later-life lending
Content editor at MoneyAge, Dan McGrath, spoke to the chief executive officer at Air, Will Hale, about the later-life lending industry, the importance of tailored advice and how technology and obligations have shaped the sector.


Helping the credit challenged get mortgage ready
A rising number of borrowers are finding it harder to access mortgages due to being credit challenged - whether that’s from historic debts, a county court judgment, or having little to no credit history.

In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.

The future of the bridging industry and the Autumn Budget
MoneyAge content editor, Dan McGrath, is joined by head of marketing at Black & White Bridging, Matt Horton, to discuss the bridging industry, the impact of the Autumn Budget and what the future holds for the sector.