Tackling Britain's Poverty with Workplace Savings Auto-Enrolment
Ambitious reform is required to tackle Britain's entrenched poverty, according to the cross-party Poverty Strategy Commission.
The Commission, chaired by Baroness Philippa Stroud, proposes a new social contract built on mutual obligation and shared responsibility.
Key Proposals
- Scaling workplace savings solutions
- Reference to Nest Insight's work on opt-out workplace savings tools
The evidence behind opt-out workplace savings tools is conclusive and robust; they can dramatically boost saving behaviours, address financial exclusion and support greater household resilience.
Author's summary: Workplace savings auto-enrolment may help tackle Britain's poverty.