Occupational Pensions

Department for Work and Pensions written question – answered on 16th April 2019.

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Photo of Helen Whately Helen Whately Vice-Chair, Conservative Party

To ask the Secretary of State for Work and Pensions, what proportion of people who have benefited from pensions auto-enrolment are (a) women and (b) men.

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

10.4 million workers have been automatically enrolled into workplace pension by more than 1.4 million employers. By 2019/20 an estimated extra £18.6 billion a year is estimated to go into workplace pensions as a result of Automatic Enrolment. Automatic Enrolment has reversed the decline in workplace pension saving.

Automatic Enrolment was designed specifically to help groups who historically were poorly served or excluded from workplace pension saving, such as women and lower earners. It is equalising workplace pension participation among eligible men and women. In 2017, 81 per cent of eligible men and 80 per cent of eligible women in the private sector were saving into a workplace pension. This compares with 43 per cent and 40 per cent respectively in the private sector in 2012.

The Government’s 2017 review of Automatic Enrolment https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/668972/print-ready-automatic-enrolment-review-2017-maintaining-the-momentum.pdf set out our ambition for the mid-2020s, with proposals to strengthen financial resilience for traditionally excluded groups including women.

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