Henry Smith MP has welcomed new figures showing that more than 48,000 people in Crawley are now enrolled in a workplace pension.
Due to changes to workplace pensions, over 10 million more people are now saving for retirement. Auto-enrolment was introduced so that workers can save more and have greater financial security and independence in their retirement.
“The introduction of automatic enrolment has enabled some 10 million people – including over 48,000 individuals in Crawley – to save for their future.
“The Government’s balanced approach to the economy, as well as important changes to help people save more for their retirement, means more families can plan for the long-term with the security of a pension.
“For a whole generation, workplace pension saving is now the new normal, but there’s more to do to help more people than ever before build an enjoyable and secure retirement.
“I’m proud that B&CE The People’s Pension, based in Manor Royal, are playing a key part in the roll-out both locally and nationwide.”
Rt Hon Amber Rudd MP, Secretary of State for Work & Pensions and fellow Sussex MP, commented;
“Automatic enrolment is an extraordinary success story. Thanks to this revolutionary reform, 10 million people can look forward to a more secure future and a better retirement.
“That is a remarkable achievement. Workplace pensions had fallen out of fashion and were seen as the preserve of older, wealthier people. Now saving is the norm across the UK, wherever you work.
“As we reflect on this milestone, we will of course be considering how we can reach even more people – with our ambition to bring in younger workers and enable everyone, particularly part-time and lower earners and the self-employed, to save more.”