Pension gap to narrow following boost in living wage

An extra £150 a year in contributions could benefit some lower earners on the living wage

Jasmine Urquhart
clock • 2 min read
The 9.8% growth in the living wage for those aged 21 and over should have a positive effect on pension contributions, commentators have said
Image:

The 9.8% growth in the living wage for those aged 21 and over should have a positive effect on pension contributions, commentators have said

Today’s increase in the National Living Wage could contribute to a closing of pensions gap for lower earners, industry commentators have said.

Ahead of the Autumn Statement today (22 November), chancellor Jeremy Hunt confirmed the living wage would increase by 9.8% to £11.44 from 1 April 2024 (for those aged 21 and over), with separate in...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

Jasmine Urquhart
Author spotlight

Jasmine Urquhart

Senior Correspondent at Professional Pensions

More on Industry

News Digest: Lord mayor calls for FTSE 'employer pension pledge'

News Digest: Lord mayor calls for FTSE 'employer pension pledge'

PP brings together all the latest news on pensions from across the national and financial media

Professional Pensions
clock 09 June 2025 • 1 min read
Professional Pensions: Stories of the week

Professional Pensions: Stories of the week

Pension Schemes Bill, DWP Virgin Media legislation and TPR endgame options guidance

Professional Pensions
clock 06 June 2025 • 1 min read
TPR to launch strategy to drive up standards of trusteeship

TPR to launch strategy to drive up standards of trusteeship

Watchdog says strategy will bring trusteeship ‘into line’ with other professions

Jasmine Urquhart
clock 05 June 2025 • 1 min read
Trustpilot