DWP: Pensions act means millions will save more
www.moneynews.co.uk > Pensions > DWP: Pensions act means millions will save more
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DWP: Pensions act means millions will save more
Fri 28th Nov 2008
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From 2012 workers will either be automatically enrolled in their employer's pension scheme, or will have access to the new Personal Accounts scheme, meaning that millions who do not currently enjoy the benefits of a pension fund can do so.
Minister for pensions and ageing society Rosie Winterton said that currently an estimated seven million people across the UK were not saving enough to generate the pension income they are likely to expect in retirement.
Commenting on the new law, James Purnell, the work and pensions secretary, said: "It will no longer matter if you are in a low-paid job.
"If you are in some form of employment you will now have the chance to save for your retirement."
On Monday the government unveiled further moves to help pensioners, including extra money for its Warm Front scheme, which helps the poorest households save on their energy bills.
Click here for more pensions news
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