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.”
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.