Auto Enrolment Pensions Law receives Royal Assent

29 September 2023

 

  • The Pensions (Extension of Automatic Enrolment) Act 2023 (“The Act”) has received Royal Assent
  • The Act introduces powers to enable the Secretary of State to make new regulations in order to reduce the age for being auto enrolled
  • Since its introduction in 2012, automatic enrolment age has been 22
  • The Act will lower the age to 18
  • Furthermore, the Act introduces powers to enable the Secretary of State to make new regulations to remove the Lower Earnings Limit for qualifying earnings (with the intention being contributions apply from the first £1 of earnings)
  • Minister for Pensions, Laura Trott, commented that auto enrolment has been a phenomenal success and this Act will mean younger workers and those in lower paid jobs will be able to fully participate in auto enrolment
  • Government report that over 10,9 million people have been automatically enrolled since 2012
  • See the Act here

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