Pensions

Plan for workers to be enrolled in pensions from 16 | News

The move would see millions more young people working in retail, hospitality and trades included in company schemesREX FEATURES

Sixteen-year-old workers are to be enrolled in their company pension schemes for the first time.

Employers have to include staff once they are over 22 but the threshold will be lowered after a government review.

At present younger workers have no pension rights. The lower limit will allow millions of young people working in retail, hospitality and trades to be included, as well as some apprentices. The review by the Department for Work and Pensions will be published this year, The Daily Telegraph reported.

Since auto-enrolment began in 2012 the number of people saving into a company pension has risen by 73 per cent. Nearly 80 per cent of eligible employees pay into a plan. Workers must earn at least £10,000 a year to qualify.

Want to read more?

Register with a few details to continue reading this article.

Already a subscriber? Login

Leave a Reply

Your email address will not be published. Required fields are marked *

five × 4 =