Live DWP Automatic Pension Enrollment Debate

Tuesday 09 February, 2016 Written by Simon Collyer

DWP Debate:

Work and Pensions Committee

Wednesday 10 February 2016 Meeting starts at 9.30am

A workplace pension is a way of saving for your retirement that’s arranged by your employer.

Some workplace pensions are called ‘occupational’, ‘works’, ‘company’ or ‘work-based’ pensions.

According to the .gov website a new law means that every employer must automatically enrol workers into a workplace pension scheme if they:

are aged between 22 and State Pension age
earn more than £10,000 a year
work in the UK

This is called ‘automatic enrolment’. Wednesdays debate subject is: Pensions automatic enrolment

The Work and Pensions Committee has launched an inquiry into pensions automatic enrolment. Under the Pensions Act 2008, every employer in the UK must put certain staff, unless they choose to opt out, into a pension scheme and contribute towards it. Larger businesses are already required to auto-enroll staff. The requirement is now gradually being applied to smaller employers.

Call for written evidence

The Committee inviteed written submissions on the implementation of automatic enrolment and, especially, the effects on small and micro employers. In particular, the Committee welcomes submissions addressing the following points:

the effectiveness of the automatic enrolment process and lessons learnt so far
the impact of automatic enrolment on smaller employers and how they plan to mitigate any negative effects
Department for Work and Pensions support for small and micro employers in meeting their automatic enrolment obligations, and any recommendations for improvement
the suitability of the auto-enrolment earnings threshold and minimum contribution rates
the effect of the delays to the implementation of increases to minimum contributions announced in the Autumn Statement
the interaction between automatic-enrolment and other pensions reforms, including the new state pension and pension freedom

Witnesses: