A Government review which could lead to seasonal and lower paid part time workers being included in the auto-enrolment pension programme, is being backed by industry experts.
Thousands of people currently miss out on the chance to save for retirement, said Emily Jacobs, a Director of Richard Jacobs Pensions.
“Auto-enrolment has proved hugely popular with very few people opting out of the schemes we have set up for clients. People, even young workers clearly recognise the need to save,” said Emily.
“Extension on the scheme to allow more people to save must be welcomed.
“One example, is the theatre industry. Here at Richard Jacobs Pensions, we helped to set up an auto-enrolment scheme for a theatre, but it is rare for any one production to last for more than three months and, therefore, people working on specific productions can go through without saving for a pension.
“We also see examples of people who have two, or more, part time jobs. In each job, they may not earn enough to go into a current auto-enrolment scheme, but their total earnings are above the minimum £10,000 requirement.”
The Government review of the auto-enrolment programme is to be launched this month and seasonal workers are on the agenda for discussion.
There is evidence that many more people are now working part time or seasonally and a change in the pension rules may encourage them to save for the future.
Read the article on the Staffordshire Chamber Of Commerce Website Here