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Retirement

Work and Pensions written question – answered on 28th June 2012.

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Photo of Simon Kirby Simon Kirby Conservative, Brighton, Kemptown

To ask the Secretary of State for Work and Pensions what plans his Department has to help working people prepare for retirement.

Photo of Steve Webb Steve Webb The Minister of State, Department for Work and Pensions

Millions of people are not saving enough to meet their aspirations for retirement. To address this, the Government is introducing automatic enrolment into workplace pensions.

Starting from 2012 all employers beginning with the largest will be required to enrol all workers eligible for automatic enrolment into a qualifying workplace pension scheme and make a minimum contribution. The Department for Work and Pensions has developed communications to provide support and information to individuals to help them understand what automatic enrolment means for them.

People are normally notified of their state pension entitlement three to four months before it is due. They can, however, get an estimate of their state pension from the Department for Work and Pensions in advance of that by requesting a state pension forecast or state pension statement. The on-line state pension profiler also allows individuals to quickly self-assess the amount of basic state pension they may get, and the earliest date they may get it.

A major source of information for people is the Pensions and Retirement Planning section on the following website:

www.Directgov.co.uk to which Department for Work and Pensions' campaigns direct people.

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