Company Pensions for 16 year olds

At present, employers are legally obliged to automatically enrol workers at the age of 22 into pensions.  The removal of the lower age limit would see millions of young workers and some apprentices enrolled into company pensions.

The DWP review, which is expected to contain the change of age, is due to be published before the end of this year. 

Auto Enrolment Pensions were introduced in 2012 as part of a government drive to revert a retirement savings crisis by encouraging all workers to save.  In the first four years of the scheme the number of people actively saving into a company pension rose by 73 per cent from 7.8 million in 2012 to 13.5 million in 2016.