MP Soames ‘delighted’ to see businesses enrol on pension scheme

MP for Mid Sussex Sir Nicholas Soames
MP for Mid Sussex Sir Nicholas Soames

MP Sir Nicholas Soames said he was ‘delighted’ to see ‘so many businesses’ in the district enrolling on a pension scheme.

He said: “Local businesses are showing how committed they are to helping their employees save for a future and I am delighted to see so many businesses on board.

“I want to thank business owners for supporting the Government’s drive to change the way people save and plan for their future.”

Employers must now enrol staff aged 22 and over who earn more than £10,000 into a pension, a spokesman said.

And 13,000 people across the district are now saving towards their retirement, as a result of the Government’s auto enrolment scheme.

Figures from the Pensions Regulator show 1,850 businesses in the constituency have enrolled in the scheme since it started in 2012, meaning that 13,000 workers are benefitting, a spokesman said.

Nationally as of January, more than 1.032 million employers were signed up with 9.3 million employees registered in the scheme.

Work and Pensions Secretary Esther McVey MP said: “Saving at a young age for pensions is vital and that is why I believe the automatic enrolment will change the way future generations think. It will become the norm for people to put away money for later in life.

“We have made great success with this scheme but I know we need to go further and that is why we are going to lower the age for automatic enrolment to 18 which will benefit another 900,000 people across the country. The Government is committed to helping save for the future.”