Tackling Britain's Poverty through Workplace Savings
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.
Workplace Savings as a Solution
Among the proposals is a call to scale workplace savings solutions, referencing the work of Nest Insight.
Scaling workplace savings would support action on numerous government policy objectives.
- Boost saving behaviours
- Address financial exclusion
- Support greater household resilience
The evidence behind opt-out workplace savings tools is conclusive and robust, with no other approach shown to be as effective.
Author's summary: Workplace savings can help tackle Britain's poverty.
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