Young people in work could be £30,000 better off when they reach retirement age

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Young people in work could be £30,000 better off when they reach retirement age
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The UK Government’s plan is to reduce the lower age limit of workplace pension auto-enrolment from 22 to 18

A former Conservative minister has said that lowering the age threshold for automatic pension enrolment could make young workers £30,000 better off in retirement. Tory MP Jonathan Gullis said his plans to reduce the age of Auto-Enrolment to 18 would be “transformative” for future pensioners.

He added: “Removing the lower earnings limit will proportionally benefit the lowest earners the most. He added: “I saw first hand the benefits this scheme has had on the lives and future of my employees, employees who would never have considered being part of a pension scheme were put into a position where it became a simple and easy process for the first time.”

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