Local MP, David Rutley, has welcomed the news that 13,000 more people in and around Macclesfield are now saving towards their retirement, thanks to the workplace pension auto enrolment scheme.
As a result of the Government’s approach, employers must enrol staff aged 22 and over who earn more than £10,000 into a pension. Figures from the Pensions Regulator show that 1,650 businesses in the Macclesfield constituency have enrolled in the scheme since it started in 2012, meaning that 13,000 employees are benefitting.
Nationally, as of January, more than 1.032 million employers were signed up with 9.3 million employees registered in the scheme. The Department for Work and Pensions will explore solutions with experts for self employed people who have different income and saving needs.
David said: “I strongly welcome the commitment so many local employers are demonstrating to help their employees save for their futures and I am delighted to see so many businesses in and around Macclesfield on board. Saving at a younger age for a pension is vital, and I want to thank business owners for supporting the drive to change the way people save and plan for their future.”