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Thousands of people in Great Yarmouth area are saving more in pensions

PUBLISHED: 09:46 23 February 2018 | UPDATED: 09:46 23 February 2018

Brandon Lewis MP Picture: James Bass

Brandon Lewis MP Picture: James Bass

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New figures show that 7,000 more people in Great Yarmouth are now saving more for their retirement.

Brandon Lewis, MP for the borough, has welcomed the new figures showing that, due to changes to workplace pensions, more than nine million more people are now saving for retirement nationally.

The figures also show that 87,140 more people in work in the east of England are now saving for a life after work.

Auto-enrolment was introduced so more workers can save for retirement.

Mr Lewis said: “By introducing automatic enrolment, we’re transforming the way people save for retirement.

“That means more families can plan for the long-term with the security of a pension.

“For a whole generation, workplace pension saving is now the new normal, but there’s more to do to help more people than ever before build an enjoyable and secure retirement.”

Since its launch in 2012, 9.3 million people have enrolled into a workplace pension with a large number of new savers under the age of 30.

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