All Auto-enrolment articles – Page 12
-
NewsNest to trial ‘opt-out’ payroll savings approach
On the go: The research arm of the government-backed master trust Nest will be trialling an ‘opt-out’ payroll savings approach that aims to help employees build up an emergency fund.
-
NewsGender pension gap reaches 56% at retirement
On the go: Women have a gender pension gap in every stage of their career, which reaches 56 per cent at retirement when compared to men, according to analysis from Legal & General.
-
NewsPodcast: Too much jargon hampers sustainable investing drive
Podcast: Politicians and the pensions industry risk jeopardising the progress made on sustainable investing because they are too fond of jargon. Members are keen to get involved, but they have to understand what they are getting involved in. Georgia Stewart, chief executive of Tumelo, and Chris Hulatt, co-founder of Octopus Group, talk sustainability, inter-generational fairness and cryptocurrencies.
-
NewsNest govt loan increases 66% in pandemic year
On the go: The loan from the Department for Work and Pensions to Nest increased by 66 per cent in 2020-21, as the government-backed master trust saw a rise in members and assets under management.
-
NewsDWP’s move to DC universal charge structure could do ‘serious damage’
Industry commentators are worried about the Department for Work and Pensions’ proposal to introduce a universal annual management charge in defined contribution default funds, warning that the move is premature and could do “serious damage” to the pensions market.
-
NewsDWP issues ‘stronger nudge’ to pensions guidance consultation
On the go: The Department for Work and Pensions has opened a consultation into regulations requiring trustees and scheme managers to “nudge” individuals to obtain pensions guidance.
-
NewsOver-50s fear retirement poverty
On the go: Adults aged over 50 in the UK are worried about their financial future, with almost a third admitting to concerns that they will not have enough money to live off in later life, according to research by SunLife.
-
NewsYounger workers risk losing track of pension pots
On the go: Younger workers unaware of their pension arrangements face losing track of their pension pots as the economy recovers from Covid-19.
-
NewsNearly a third of Gen Xers have inadequate pension savings
Almost one in three Generation Xers — individuals aged between 41 and 56 — have inadequate pension savings and face a minimum-at-best standard of living in retirement, according to research by the International Longevity Centre and Standard Life.
-
NewsHymans warns over statement timescales as DWP consultation closes
On the go: As the Department for Work and Pensions closes its consultation on simpler annual benefit statements on Tuesday, investment consultancy Hymans Robertson has called for more time to implement the changes.
-
NewsCalls for NHS pension reform to tackle 'medical staffing crisis'
On the go: The British Medical Association has used a Public Accounts Committee report criticising the Treasury’s implementation of public sector pension reforms to call for further changes to the NHS Pension Scheme in order to tackle the medical staffing crisis.
-
NewsIndustry body partners with Smart Pension to offer AE to architects
On the go: The Royal Institute of British Architects has partnered with Smart Pension to create an auto-enrolment solution for RIBA’s architect practices, while moving its own defined contribution scheme to the master trust.
-
PodcastsPodcast: Trustees should focus more on scheme admin in anti-scam fight
Podcast: The Pensions Ombudsman has declared schemes should have their transfer and due diligence procedures updated within a month of new anti-scams guidance. Compliance will require a huge amount of administrative time and resources, and trustees should give scheme administration more focus. LCP partner Francesca Bailey and Pensions Management Institute president Lesley Alexander talk scams, dashboards and corporate activity.
-
NewsGE facing industrial action over pension cut proposals
On the go: General Electric’s UK division is facing the prospect of industrial action over reforms to its pension schemes, which, critics have said, will leave workers thousands of pounds worse off.
-
NewsCushon acquires Northern Ireland master trust
On the go: Pension provider Cushon has acquired the Workers Pension Trust, a master trust in Northern Ireland, after raising £26m in a funding round.
-
NewsDWP DC single charging structure to bring headaches for master trusts
The Department for Work and Pensions is considering introducing a universal charging structure for the default funds in defined contribution schemes. The move was welcomed for the clarity it might give to DC savers, but experts have warned of the problems it would cause master trusts like Nest.
-
NewsScams, dashboards, superfunds feature in TPR’s three-year plan
The Pensions Regulator has published its latest three-year plan, an agenda encompassing everything from pensions security, tackling scams, dashboards, superfunds, and coping with the changing nature of defined contribution pension provision.
-
NewsRegulators ask industry for help on improving pension saving
On the go: The Financial Conduct Authority and the Pensions Regulator have teamed up to investigate how people make decisions about their pensions at key points throughout their working lives, in order to better support savers through future regulation.
-
NewsACA urges steps to fill guidance ‘black hole’
On the go: The Association of Consulting Actuaries has argued that fixing the “disjointed” and “fragmented” system that is UK pensions provision is vital if the full potential of pension freedoms is to be unlocked.
-
NewsPLSA calls for new legislation to support members at retirement
On the go: The Pensions and Lifetime Savings Association has called on the government to introduce legislation underpinning a new set of product, communication and governance standards to build on pension freedoms and provide greater support for savers at retirement.