18 July 2006
Automatic enrolment into a system of personal accounts will
tackle the culture of under-saving for retirement and be good news
for consumers, according to Secretary of State for Work and
Pensions John Hutton.
Mr Hutton and Pensions Reform Minister James Purnell
kick-started the consultation on the model for personal accounts
proposed in the recent White Paper on Pension Reform. The
consultation will end on 11 September 2006.
Speaking at the Government's Pensions Summit on personal
accounts in London, John Hutton, Secretary of State for Work and
Pensions, said: "We need to tackle the culture of under-saving,
particularly among lower earners. We believe the best way to get
more people saving is to automatically enrol them into personal
accounts.
