Commenting on the news today (Thursday) that 4 million people have now been auto-enrolled to workplace pensions, TUC General Secretary Frances O’Grady, said:
“It is welcome news that four million people have been auto-enrolled into a workplace pension, but we must now build on this success.
“Many people in low-paid jobs don’t benefit from the current system because they have to be earning more than £10,000 to trigger auto-enrolment. This means the majority of the UK’s six million part-time workers are missing out.
“The Pensions Minister, Steve Webb, recognises that auto-enrolment pensions will not generate a decent retirement income, even with plans to raise minimum contributions in 2017 and 2018. So we need the government to set out a new road map to improve the scheme and ensure that it’s fully supported by sufficient employer contributions.”
NOTES TO EDITORS:
- All TUC press releases can be found at www.tuc.org.uk
- Follow the TUC on Twitter: @tucnews
- Congress 2014 will be held in the BT Convention Centre, Liverpool, from Sunday 7 September to Wednesday 10 September. Free media passes can be obtained by visiting www.tuc.org.uk/media-credentials and completing an online form. Applications must be in by noon on Wednesday 27 August. Any received later than that will be processed in Liverpool and will cost £75.
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