Alex Cunningham MP, Labour’s Shadow Pensions Minister, commenting on the Government’s plans to review auto-enrolment in workplace pensions, said:

“With a growing army of low paid, self-employed and other workers, the need to provide for retirement has never been greater. Labour very much welcomes the review of auto-enrolment with its emphasis on groups currently excluded from it and the burden on employers.

“Sadly the review will take the best part of a year when the Government could use the current Pensions Schemes Bill to act now and bring some of the excluded groups into the scheme including those in multiple jobs whose total income exceeds the £10,000 threshold, those who are self-employed and the growing number of women who are not covered and may not be for years to come.

“Ministers could also act now to bring all employees earning at the lower qualifying limit into the scheme.

“Labour is committed to ensure we deal with the implications of a deregulated labour market and ensure the issues raised by the FCA’s asset management group review about the lack of cost transparency and the disaggregation of pension fund assets. That coupled with the re-examination of the charges cap ought to deliver full and better value for the members.”