Automatically enrol young staff into workplace pension schemes, says IFS

Thinktank says with up to 40% of staff on track for inadequate funds even 16-year-olds should be signed up

Employees as young as 16 should be automatically enroled into workplace pensions and there is a strong case for making their employers pay in even when they do not contribute themselves, according to a leading thinktank.

The Institute for Fiscal Studies (IFS) has warned that many current workers are on track for inadequate retirement incomes", with between 30% and 40% of private sector workers, 5 to 7 million people, likely to fall short of what is needed for a minimum standard of living.