UK - Employers will have the right to force staff to join a company pension scheme if a proposal in the Pickering review is enacted.
The proposal – which has been welcomed by the NAPF – would restore powers which employers lost when personal pensions were introduced in 1988.
Hewitt Bacon & Woodrow associate Raj Mody said: “Giving back to employers control about their employees’ participation in a quality occupational scheme would be a positive step overall for pension provision.
“People refer to this as ‘compulsory’ membership but it’s really about extending the paternalistic ethic – if employers wish to set up a decent occupational scheme voluntarily then you can understand why it’s fair to let them have some control to ensure wide take-up.”
There is just one week left to register to enter the Workplace Savings and Benefits Awards 2018.
Nearly a third (32%) of employers believe new technologies, such as augmented and virtual reality, will play a part in benefits communications, latest research from Aon Employee Benefits reveals.
Universities UK (UUK) has suggested a collective defined contribution (CDC) scheme could be a replacement for the defined benefit (DB) element of the Universities Superannuation Scheme (USS).
This week's top stories included a Pensions Institute report suggesting the aviation industry's practice of constantly evaluating mistakes should be applied to defined benefit pensions.