Today, 12 December 2016, the government confirmed the scope of its 2017 review of automatic enrolment.
Commenting on the announcement, Alistair McQueen, savings and retirement manager at Aviva said:
“Aviva is pleased to see the government has listened to many of the points raised in Aviva’s review of automatic enrolment, published on 15 November.
“Aviva estimates that up to ten million workers – employed and self-employed – are missing out on the benefits of automatic enrolment. The scope of the 2017 review allows for the needs of these workers to be considered. The review will also consider the age-criteria for automatic enrolment. At a time when all are keen to encourage a longer working life, Aviva has called for the current age ceiling to be lifted.
“Many share Aviva’s belief that current contribution levels are insufficient to deliver a satisfactory income in retirement. The government have chosen to begin, but not conclude, its thinking on this point in 2017. Aviva supports the government’s desire to maintain a consensus, and we look forward to working with them and all concerned to positively progress this important debate over the next year.
“Automatic enrolment has positively revolutionised workplace pensions since 2012. Aviva will support all efforts to maintain this momentum.”
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Notes to editors:
- Aviva provides life insurance, general insurance, health insurance and asset management to 33 million customers, across 16 markets worldwide
- In the UK we are the leading insurer serving one in every four households and have strong businesses in selected markets in Europe, Asia and Canada. Our shares are listed on the London Stock Exchange and we are a member of the FTSE100 index.
- Aviva’s asset management business, Aviva Investors, provides asset management services to both Aviva and external clients, and currently manages over £289 billion in assets.
- Aviva helps people save for the future and manage the risks of everyday life; we paid out £30.7 billion in benefits and claims in 2015.
- By serving our customers well, we are building a business which is strong and sustainable, which our people are proud to work for, and which makes a positive contribution to society.
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