20 FEB 2018

Security offered by new saving figures

Helen Grant, Member of Parliament for Maidstone and the Weald has welcomed new figures showing that over 9 million more people are now saving for retirement across the country.

Helen was particularly encouraged to learn that the figures show that 14,000 more people in Maidstone and the Weald are now saving extra money for their retirement.

The figures come on the back of the wide ranging Government reforms to work place saving, including the introduction of auto-enrolment, so that more workers have the opportunity to save for retirement. The Government has also ensured that the changes are affordable for those who wish to save.

The latest research shows that workplace pensions have become much more common, as 4 in 5 of today's eligible workers now see saving through a workplace pension as the normal thing to do if you are in paid employment. Furthermore small businesses have found a pension scheme for their workers to be 'necessary' and 'sensible' and have also been impressed by the simplicity of the system.

Helen said, 'By introducing automatic enrolment, the Government have radically changed the way that we save for our families' futures. I know that people across Maidstone and the Weald care deeply about providing security for their loved ones in the years ahead and I am hugely encouraged that the Government's reforms seem to be bearing fruit; making the saving process easier and more affordable.

I am particularly pleased to learn that those benefiting most from the reforms are women and young people because I fundamentally believe that we should all be able to benefit from the peace of mind of a secure pension irrespective of age or gender.'

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