August 2023

Pension rule changes could boost retirement income by £2,500 a year

Working Britons approaching their retirement could see their post-retirement pensions income get a £2,500 a year boost if the auto enrolment scheme were expanded. A study by the Pensions Policy Institute looked at what would be the effect if the low earnings limit for auto enrolment were scrapped. A person currently has to earn at least £10,000 a year to be put on auto enrolment but there are currently 3.17 million Britons who earn below this amount who would otherwise qualify,...