Tag: auto-enrolment
Savers left short-changed by unfair annuities system
The National Association of Pension Funds (NAPF) and the Pensions Institute (PI) at Cass Business School published a joint report early in 2012, suggesting that around half a million people retiring each year are being short-changed by up to £1bn from their total future pension income, because overwhelming obstacles stop them getting the best deal [...]
Read moreAuto-enrolment opportunity to save is coming up
Now that the Government has announced a clear timetable for the roll-out of auto-enrolment, the Association of British Insurers (ABI) suggests that employer pension contributions could break the ‘savings stalemate’ for more than half of people. The opportunity to benefit from employer contributions remains the single biggest reason for people to stay ‘auto-enrolled’ in new [...]
Read moreGovernment confirms auto-enrolment delay for small firms
With George Osborne’s Autumn Statement and the strike by public sector workers happening almost simultaneously, an announcement by Pensions Minister Steve Webb about auto-enrolment in pension schemes was never going to grab the headlines. However, the announcement does have significant implications for Britain’s small businesses. The Government is currently implementing a plan for auto-enrolment in [...]
Read morePreparing for pension auto-enrolment
At present, around 38% of UK private sector employers provide a workplace pension scheme, however this is all set to change. All employers will be required to auto-enrol their employees into a ‘qualifying workplace pension scheme’ under the Government’s pension reforms between late 2012 and early 2016. By October 2017, minimum contributions being made to [...]
Read moreWhat does pension auto-enrolment mean for you
At present, many workers fail to take up valuable pension benefits because they do not make an application to join their employer’s scheme. From 1 October 2012 (subject to an employer’s own introduction date), all eligible workers will be automatically enrolled into their employer’s qualifying pension scheme without any active decision on their part. Employers [...]
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