View more on these topics

ABI in threshold warning

The ABI warns that raising the auto-enrolment lower earnings’ threshold to only £7,475 risks leaving some people worse off from saving.

Some respondents, including the ABI and Standard Life, called for an earnings’ limit of £10,000 to ensure all people benefited from saving into a pension, even if means-testing is abolished from pensions.

ABI acting director general Maggie Craig says: “The financial crisis has shown just how important it is for people to save and prepare for their financial future. If automatic enrolment is to succeed, people have to feel confident it will pay for them to save.

“We think it is right to raise the income threshold someone has to earn before being automatically enrolled, although we would have preferred a higher level of £10,000 to make sure that more people clearly benefit from saving.”


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm