Newly released figures show that 8,000 constituents in Sherwood have now been automatically enrolled in a workplace pension, following on from the government introducing 'automatic enrollment'.
Local MP, Mark Spencer, has praised the figures, saying:
"Its great news that, nationally, 10 million people are now automatically enrolled in a work place pension scheme, but it's even better news that 8,000 people at home here in Sherwood are now automatically enrolled in workplace pension schemes."
"Automatic enrollment means that families across Sherwood are able to plan long term, knowing they have the security of a pension, and it's something I'm very pleased to support."
For more details on the workplace pension, please visit: https://www.gov.uk/workplace-pensions
Secretary of State for Work and Pensions, Amber Rudd, added:
‘Automatic enrolment is an extraordinary success story. Thanks to this revolutionary reform, 10 million people can look forward to a more secure future and a better retirement.
‘That is a remarkable achievement. Workplace pensions had fallen out of fashion and were seen as the preserve of older, wealthier people. Now saving is the norm across the UK, wherever you work.
‘As we reflect on this milestone, we will of course be considering how we can reach even more people – with our ambition to bring in younger workers and enable everyone, particularly part-time and lower earners and the self-employed, to save more.’