All Auto-enrolment articles – Page 13
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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NewsDC schemes to send two-page ‘simpler statements’ in 2022
The Department for Work and Pensions is consulting on regulations that would see schemes required to send simpler annual benefit statements to their members from April next year.
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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.
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OpinionPolicy changes needed to avoid generations of pension inadequacy
The government’s policy in regards to auto-enrolment and the money purchase annual allowance needs to be reviewed to avoid pension poverty, warns Renny Biggins, head of retirement at The Investing and Saving Alliance.
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NewsAuto-enrolment participation stagnates in 2020
On the go: 2020 was the first year to see unchanged levels of participation since the auto-enrolment scheme was introduced, according to new figures from the Office for National Statistics published on Monday.
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NewsGovt urged to encourage later life pension contribution plan
On the go: Policymakers should carefully consider later life cycle factors when developing future policies to increase retirement savings, according to the Institute for Fiscal Studies.
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NewsMulti-jobbers missing out on £76m in pension contributions
On the go: Low earners with multiple jobs are missing out on £76m a year in employer contributions to their pension due to an “unfair system”, according to Scottish Widows.
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NewsOnly 36% of construction workers are saving into a pension
On the go: The majority of construction workers are not saving towards their retirement, according to research by union Unite.
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NewsSarah Smart endorsed as TPR chair despite conflict of interest concerns
The Work and Pensions Committee has given its assent to the appointment of Sarah Smart as the next chair of the Pensions Regulator, putting aside concerns about potential conflicts of interest.
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NewsLCP warns private sector DB dying faster than realised
On the go: New research from consultancy LCP has found that with private sector defined benefit schemes closing more rapidly than realised, the incomes of newly retired workers are set to fall at a much more dramatic rate in the coming decades than had previously been thought.
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Govt should boost CDC pensions to rebalance consumer risk
The Institute and Faculty of Actuaries has proposed a number of measures to tackle the so-called ‘great risk transfer’, among which is a call on the government to emphasise the benefits of collective defined contribution schemes as an alternative to traditional DC pension arrangements.
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NewsCalls for govt to introduce sidecar savings into auto-enrolment
On the go: A group of Conservative party members have called on the government to introduce a sidecar savings mechanism into the existing auto-enrolment policy.
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Industrial action threats in response to new USS employer consultation
On the go: The University and College Union has once again hinted that industrial action may be called for after accusing Universities UK of failing to stand up for members.