NEWS   |    September 29, 2022

Associate Rhiannon Barnsley comments in Law360 on auto-enrolment reform

With the cost of living crisis placing pension reform on the sidelines of political agenda, the UK is facing an increasing gap in retirement savings between those that are in employment subject to pension auto-enrolment and those who are not, such as lower paid workers and those in part-time jobs.

Although the government appears committed to auto-enrolment reform, change would likely prove unpopular in the current economic climate.

Rhiannon Barnsley commented that despite the challenges of the current economic climate, reform shouldn’t be delayed too long. If the cost of saving for retirement proved too much for some of the newly auto-enrolled, they could always choose to opt-out, temporarily pausing contributions to their pension, she noted.

“Some employees may, even with the current crisis going on, still wish to save money for their retirement,”

“Those same employees may be currently excluded from the scope of the auto-enrollment regime.”

Read Rhiannon’s comments in Law360.

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