Publication
International Restructuring Newswire
Welcome to the Q2 2025 edition of the Norton Rose Fulbright International Restructuring Newswire.
Pensions (Extension of Automatic Enrolment) (No 2) Bill receives Royal Assent
United Kingdom | Publication | September 2023
The Pensions (Extension of Automatic Enrolment) (No 2) Bill 2022-23 received Royal Assent on September 18, 2023.
The Act contains provisions that will implement two key recommendations made by the DWP's 2017 independent review of auto-enrolment. These are the introduction of regulation-making powers to:
- Reduce the lower age threshold for auto-enrolment from 22 to 18.
- Reduce or repeal the amount of the lower limit of the qualifying earnings band (currently £6,240pa) so that contributions are calculated from the first pound earned up to the upper limit (currently £50,270pa).
The enactment of the legislation will be a welcome step in the extension of auto-enrolment provision once these provisions come into force. However, there remain hopes the Government will in due course consider higher minimum contribution rates and effective measures to improve pensions saving amongst the self-employed.
Partner
Email
lesley.browning@nortonrosefulbright.com
Recent publications
Publication
UK MAR: Navigating disclosure obligations in uncertain markets
In the current geopolitical climate, with the imposition of tariffs and associated macroeconomic uncertainty, publicly traded companies across sectors will need to consider the potential impact on their business in the context of their ongoing disclosure obligations.
Publication
Secondary capital raising regime
In July 2022 the UK Secondary Capital Raising Review published its report (Report) setting out a series of bold and wide-ranging recommendations for improving the secondary capital raising regime in the UK designed to make it quicker, more flexible, more inclusive of retail investors and more cost-effective, as well as moving towards digitisation and making better use of technology.
Subscribe and stay up to date with the latest legal news, information and events . . .