19 October 2023
The Chartered Institute of Payroll Professionals (CIPP) is delighted to join forces with the Pension Lifetime Savings Association (PLSA) in signing the Charter to create an adequate, affordable and fair pensions system.
The Charter looks specifically at getting more people saving into workplace pensions, and this is something the CIPP supports entirely. The Charter, alongside The Pensions (Extension of Automatic Enrolment) (No. 2) Bill gaining Royal Assent, will ensure younger workers, gig economy workers, multiple job holders and low earners will be able to save for their retirement.
The CIPP does however understand the implications for employers and will be working alongside members and policy makers to ensure all views are considered and feedback through future consultations, prior to implementation of new legislation.
The Department for Work and Pensions have indicated that further consultation is required before the implementation of the automatic enrolment extensions, which received Royal Assent earlier this year, keep an eye out for the policy team’s requests for your input on this matter.
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