All Auto-enrolment articles – Page 4
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NewsGovt refuses to commit to increase auto-enrolment contributions
The government has refused to commit to increasing minimum auto-enrolment contributions, despite acknowledging that the current statutory contribution of 8 per cent is “unlikely to give all individuals the retirement to which they aspire”.
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NewsInflation drives 18% surge to ‘minimum’ cost of retirement
Retirees trying to achieve a basic standard of living will have seen their expenditure increase over the past year by almost 20 per cent due to high inflation, according to the Pensions and Lifetime Savings Association’s retirement living standards.
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OpinionMember engagement is good, but inertia is better
Quietroom director Simon Grover makes the case for inertia ahead of member engagement.
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NewsMore than 8.6mn missing out on workplace pension savings
On the go: More than 8.6mn people from “underpensioned” groups are missing out on workplace pension savings, according to a report by Now Pensions.
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NewsNest plans boardroom overhaul in diversity drive
Nest is recruiting for three new non-executive directors as it attempts to improve the diversity of its board, the master trust’s chair has told Pensions Expert.
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NewsContributions surge 40% during decade of auto-enrolment
On the go: Total annual contributions to workplace pensions rose to £114.6bn in 2021, marking a 40 per cent rise since the advent of auto-enrolment in 2012.
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NewsTPR salvages more than £500mn in missing contributions
On the go: The Pensions Regulator has secured more than £500mn worth of late or missing contributions since the advent of auto-enrolment, it has claimed.
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NewsOpperman returns to DWP as minister of state
On the go: Guy Opperman has been appointed as a minister of state at the Department for Work and Pensions, a little over a month after being let go as pensions minister.
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NewsSwitching providers too difficult for employers, DWP finds
Companies rarely switch pension providers as the process is too onerous, the Department for Work and Pensions has discovered.
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NewsAggregate value of lost pension pots surges to £27bn
Pension savers are being encouraged to take action to trace their lost pension pots, which in aggregate are estimated at £26.6bn, according to the Pensions Policy Institute.
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NewsNo sign of ‘notable uptick’ in AE opt-outs despite cost of living crisis
There has been no significant rise in employees choosing to stop contributions to workplace pension schemes so far this year, despite warnings that the cost of living crisis would derail the progress of auto-enrolment.
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NewsLabour ‘should bring in workplace pension for self-employed’
On the go: A future Labour government should look to establish a workplace pension for self-employed workers, a centre-left think tank has said.
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NewsQuarter of workers unaware of workplace pension contributions
On the go: More than a quarter (26 per cent) of UK workers do not know how much they contribute to their workplace pension each month, according to new research commissioned by Standard Life.
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News‘Let’s rethink all’ member options before dashboards introduction
Legislative and policy assumptions about member behaviour as they approach retirement are completely out of sync with reality, and now is the time to “rethink all of it” before dashboards are introduced, according to Philip Brown, group director of policy and external affairs at B&CE, provider of The People’s Pension.
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NewsSmall pots problem is ‘only going to get worse’
The number of small pension pots — and the costs of administering them — will continue to increase, despite efforts from the government and industry, a Pensions and Lifetime Savings Association panel has warned.
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NewsBurghart announced as minister for pensions and growth
On the go: Alex Burghart MP has been confirmed as minister for pensions and growth at the Department for Work and Pensions
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NewsPLSA pension reforms ‘could add £4,000 to retirement income’
The Pensions and Lifetime Savings Association has warned that without reform of the pensions system, more than half of savers will fail to meet the retirement income targets set by the Pensions Commission in 2005.
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NewsRetirement risks make UK drop to 10th in global pensions index
The UK slipped from ninth to 10th in Mercer’s latest retirement income survey, as the long-term shift from defined benefit to defined contribution leaves members facing greater retirement risks.
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NewsCost of living crisis fuels enquiries on amending contributions
On the go: One in five of the pension schemes surveyed by the Pensions and Lifetime Savings Association have received enquiries from savers about reducing or stopping their pension contributions.
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NewsNew ‘pensions minister’ grilled on AE expansion and tax reform
Alex Burghart, the new parliamentary undersecretary of state at the Department for Work and Pensions, has suggested he is keen to see auto-enrolment expanded to cover emergency savings pots.