All Auto-enrolment articles – Page 6
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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.
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NewsOpperman: Employers should provide ‘rainy-day fund’ to keep staff
Pensions minister Guy Opperman has argued there is a need for employers to have a savings product offering, in addition to a pensions package, as a means of retaining staff.
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NewsAE levels out as employers seek change to age threshold
Workplace pension participation is stalling after reaching a rate of 88 per cent of eligible employees last year, according to new figures from the Department for Work and Pensions.
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NewsGovt sets 2040 gender state pension gap goal
The government has revealed a goal of eliminating the gender state pension gap by 2040, while pointing to auto-enrolment as a tool to decrease the overall savings shortfall between men and women.
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NewsRetirement guidance is improving but decumulation challenges remain
On the go:Support available to those approaching retirement is improving, particularly in master trusts, but a comprehensive framework is still required to ensure all savers get the help they need, according to new research.
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NewsSelf-assessment pension trials results expected in summer
On the go: The results of a trial to boost retirement savings for the self-employed, involving the existing self-assessment tax system, will be published in summer, a Treasury minister has revealed.
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NewsABI calls for 12% auto-enrolment minimum contributions by 2031
The Association of British Insurers has called on the government to increase minimum auto-enrolment contributions to 12 per cent by 2031.
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NewsPASA guidance addresses ‘ever-changing’ DC landscape
On the go: The Pensions Administration Standards Association has updated its defined contribution guidance to account for the “ever-changing” complexities in the sector.
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NewsNew ONS data exposes ‘shocking’ pensions inequality
On the go: One-10th of the UK population held more private pension wealth than the rest of the country combined between 2018 and 2020, new research has revealed.
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NewsPPI: CDC schemes still facing ‘key challenges’
On the go: Collective defined contribution schemes in the UK are still facing some key challenges that could benefit from further research, such as intergenerational issues and communication policies, according to the Pensions Policy Institute.
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NewsUnion takes Bolt to court over pension rights
GMB union is taking ride-hailing service Bolt to court in a bid to grant its drivers employment rights including pensions, while Uber has promised a Sharia-compliant pension fund for its drivers by October.
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NewsSmall pots member exchange trial scuppered by NMPA
A trial being developed by three master trusts to exchange small pots has ground to a halt before it even started, due to the new normal minimum pension age rules, and will only be able to advance if new legislation is introduced.
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NewsICO in talks with TPR over member communications
On the go: The Information Commissioner’s Office is engaging with the Pensions Regulator to clarify the current rules involving member communications, as schemes and providers believe existing legislation prevents them from reaching out to these individuals.
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OpinionFive years on the ‘pensions horse’, is Opperman winning the race?
Almost five years have passed since Guy Opperman assumed the role of pensions minister, which we all know he asked for. What we can hope is that after all these years he knows what a guaranteed minimum pension is.
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NewsTPR chief backs using tax returns to bring self-employed into pensions
The Pensions Regulator’s chief executive, Charles Counsell, has backed using self-assessment tax returns to encourage more self-employed to save into pensions, in a bid to tackle huge levels of pensions under-saving in the cohort.
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NewsWomen need to work an extra 18 years to match male pension pots
Women are reaching retirement age with the biggest pension savings gap on record, according to new research.
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NewsWork and Pensions Committee chair Timms receives knighthood
On the go: Work and Pensions Committee chair Stephen Timms has received a knighthood in the Queen’s birthday honours.
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NewsAuto-enrolled could accumulate £1.64mn pot over 70 years
On the go: An individual auto-enrolled on the average wage could accumulate a pension pot of £1.64mn over 70 years, according to Hargreaves Lansdown.
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NewsTPR, FCA to push for ‘consistent and structured’ approach to VfM
The Pensions Regulator and the Financial Conduct Authority are to push for a “consistent and structured” approach in the proposed new value for money framework governing defined contribution schemes, shifting the focus away from costs and towards “long-term value for pension savers”.