Workplace Pensions

Part of Work and Pensions – in the House of Commons on 9th March 2020.

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Photo of Guy Opperman Guy Opperman The Parliamentary Under-Secretary of State for Work and Pensions

The statistics are actually getting better by the minute. In 2012, only 35% of young people aged between 22 and 29 saved into a workplace pension. Now 85% of 22 to 29-year-olds save, but there is more we can do, including for the self-employed. The 8% that is being saved has made a transformational difference, and the opt-out rate among the young is the lowest of all the cohorts.