Opperman: 12mn people are under-saving for retirement

“Our commitments to reduce the eligible age for enrolment from age 22 to 18 and to remove the lower earnings limit will disproportionately benefit lower earners and low paid part time workers, who are predominantly women,” he said. 

“This will help more women save more while they are working to build their resilience for later life.”

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The government publishes data annually through its ‘Workplace participation and savings trends’ report, Opperman added.

Alex Janiaud is deputy editor at Pensions Expert, FTAdviser's sister publication