Workers miss out on pensions

Workers miss out on pensions

The government's decision to raise the earnings threshold for auto enrolment into workplace pensions will exclude hundreds of thousands more staff from saving into a workplace pension, the TUC warned last month. Most of those losing out will be women.
Currently staff must earn at least £8,105 in order to be auto-enrolled into a workplace pension, a trigger that already excludes around 1.3 million low-paid workers from being auto-enrolled into their staff pension scheme.
But the decision in December to raise the earnings trigger again to £9,440 with effect from this April will exclude a further 420,000 low-paid staff from saving into a workplace pension, unless they voluntarily sign up.
TUC reaction @
http://www.tuc.org.uk/economy/tuc-21770-f0.cfm