A Stormont committee is seeking views on planned changes to how pension auto-enrolment works in Northern Ireland.
The new rules could see a reduction in the lower age limit at which eligible workers must be automatically enrolled into a pension scheme by their employers, from the current age limit of 22 to 18 years.
The proposed Pensions (Extension of Automatic Enrolment) Bill could see the Department for Communities given the power to reduce the lower qualifying earnings band, or repeal the lower limit of the qualifying earnings band so that contributions are calculated from the first pound earned.
As part of its role in scrutinising legislation, the Assembly’s Committee for Communities has asked the public to take part in an online survey.
“Automatic enrolment was introduced in 2012 to enable more people to save for their retirement and to make pension saving the norm for most people in work,” said committee chair, Colm Gildernew.
“Saving for retirement is important for all of us, and the auto enrolment scheme allows young people to start this process early.
“However, we are conscious that the proposed changes could also have a negative impact on young people in employment, who would see their take home pay reduced, as well as employers, particularly those in the hospitality and retail sectors, for whom the cost of employing young people would go up.”
He added: “As a committee we want to ensure that this legislation is robust and fit for purpose and that it will balance the needs of young people in employment and their employers.
“Every response to our call for views will give us invaluable insight, context and the knowledge to help us make our final recommendations.
“It is therefore crucial that we hear from as many people as possible, particularly those who will be directly affected by the change.”
The survey has been launched today (lk.cmte.fyi/N7Z2), and will remain open until September 24.