All Auto-enrolment articles – Page 6
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PodcastsPodcast: Pension tax changes needed to save NHS from ‘rock bottom’
Podcast: Staff shortages and ever-growing waiting lists have left the NHS at “rock bottom”, but the government “has its head in the sand”. Changes to the pensions taxation regime are essential to fix the problem, argues Vishal Sharma, pensions committee chair at the British Medical Association. He is joined by Mark Bondi, council member at the Society of Pension Professionals and senior technical consultant at Capita, to discuss the NHS, the High Court’s retail price index decision, and pension priorities for new prime minister Liz Truss.
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NewsGrime artist Big Zuu encourages pension talk
On the go: Grime artist and TV cook Big Zuu has produced a song and accompanying video calling on people to ‘Pay your pension some attention’, as part of a wider campaign.
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NewsNest Insight emergency savings trial shows ‘very encouraging’ results
On the go: A trial of an opt-out emergency savings scheme has seen “very encouraging” early findings, boasting a 53 per cent participation rate, according to Nest Insight.
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NewsAutomatic savings trialled for those ‘excluded from pensions’
On the go: An automatic savings alternative for those ineligible for auto-enrolment has been trialled by Cushon and the University of Lincoln, leaving almost half (42 per cent) of members feeling more positive about their financial situation.
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NewsProviders take action to prevent reduced pension contributions
Providers have started to take action as more individuals move to reduce pension contributions as a result of the cost of living crisis.
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NewsPPI: More data needed on ethnic groups’ retirement outcomes
On the go: While it is known that people from Pakistani, Bangladeshi, black, and other minority ethnic groups suffer poorer retirement outcomes than the white majority of savers, the data collected does not allow us to properly examine why that is the case, according to the Pensions Policy Institute.
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NewsIncorrect personal data prevents Nest member from opting out
A healthcare company has been told by the Pensions Ombudsman to repay an employee’s pension contributions, after he was unable to opt out due to the employer providing an incorrect date of birth and national insurance number to Nest.
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NewsNumber of savers opting out of pension schemes jumps by 29%
On the go: The number of people opting out of their workplace pension scheme has risen by 29 per cent between March and July this year, according to analysis by pensions provider Penfold.
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NewsCornish housing association pilots ‘living pension’
On the go: A Cornish housing association is piloting a ‘living pension’ scheme for its employees, building on research that suggests some savers’ pension contributions will need to rise to more than double their current rate.
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NewsNearly 1.2mn people missing out on pensions savings
On the go: Almost 1.2mn small-to-medium-enterprise workers are missing out on pensions savings, according to analysis from Broadstone, which has called for these employers to boost member participation.
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NewsEvri auto-enrols couriers with Smart Pension
On the go: Parcel delivery service Evri has appointed Smart Pension to provide workplace pensions for more than 12,000 “self-employed plus” couriers.
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NewsAE bill to allow introduction of new rules when ‘time is right’
On the go: A private members’ bill on auto-enrolment currently being discussed in parliament will set the ground work to introduce reforms “when the government feels that the time is right”, Conservative MP Richard Holden has said.
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NewsMPs back tax return solution for self-employed retirement savings
The All-Party Parliamentary Group on Financial Resilience has thrown its weight behind using the tax system to help the self-employed save for retirement.
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PodcastsPodcast: Providers delaying transfers are failing their customers
Podcast: The Department for Work and Pensions has been clear about the intent of regulations governing transfers, and providers continuing to delay them are doing their members a disservice, argues PensionBee founder Romi Savova. She is joined by Penfold co-founder Pete Hykin to discuss the ongoing transfer fight, the fallout from pensions minister Guy Opperman’s resignation that wasn’t, and employers misunderstanding auto-enrolment.
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NewsCost of living crisis makes AE expansion unwise
Expanding auto-enrolment during a cost of living crisis would significantly undermine retirement resilience, with low-income earners seeing their surplus income decrease by almost a quarter, according to a new report from Hargreaves Lansdown.
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NewsA third of firms paying minimum AE believe this is govt recommendation
One in three employers who offer the minimum auto-enrolment contribution of 3 per cent to their staff are doing so as they believe this is the government “recommendation”, new research has revealed.
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NewsAlmost one in 10 cut contributions amid cost of living crisis
On the go: Almost one in 10 people (7 per cent) are planning to reduce their workplace pension contributions as the cost of living crisis continues to escalate, according to research from Barnett Waddingham.
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NewsGovernment resignations throw pensions into ‘turmoil’
Collapsing scenery in and around Downing Street has sparked fear in the pensions industry, as the resignation of pensions minister Guy Opperman brings important reforms to a halt.
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NewsOpperman: AE reforms are ‘doable’ by 2025
On the go: Pensions minister Guy Opperman remains committed to introducing auto-enrolment reform, noting that implementation of new legislation is “doable” by 2025.
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NewsTPR working on granting pensions to 200,000 gig economy workers
On the go: The Pensions Regulator is working to give gig economy workers access to pensions, but “legal complexities and routine challenges from employers” remain a challenge.