DWP (Department For Work & Pensions) yesterday hailed the new Auto Enrolment Pension rules that became mandatory for large employers last October as a big success.

Over the last year, more than a million workers have been auotmatically enrolled into a pension plan for the first time with only 10% of the workforce opting out of the new rules.

Charlotte Jackson, Head of Information and Guidance, The Pensions Advisory
Service said:

“This is great news that so many workers, especially younger people are
taking advantage of saving into a workplace pension. Even for those working
part-time, it’s important to save as much as you can, as often you can for later
life”.

Retireeasy agrees, particularly as State Pension Reform is likely to lead to a lower State pension for the younger generation and a much later age to access it.