What we know about Rachel Reeves' planned workplace pensions review
The planned reforms include the appointment of a commission to assess the adequacy of the pensions system, covering savings among the self-employed, the state pension, and auto-enrolment rates.
The overhaul is expected to shake up auto-enrolment rules, which currently require staff to contribute at least 8 per cent of earnings above £6,240 to their pension pot.
Experts, such as the Institute for Fiscal Studies (IFS), warn that current contribution levels are insufficient, potentially leaving many private sector pensioners facing financial insecurity in retirement.
The IFS recommends decisive action, including ensuring all employees receive at least 3 per cent of their total pay as employer contributions, and providing targeted support for those affected by increases in the state pension age.
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