US - President Obama's outline budget proposal will bring in automatic enrolment to Individual Retirement Accounts (IRAs) and extend the Saver's Credit for 401(k) plans - a move that could dramatically increasing saving rates among lower paid workers.
The budget proposal stated this would increase saving participation rates for low and middle-income workers to around 80%.
The automatic enrolment proposal, first put forward by think tank the Retirement Security Project (RSP), enjoyed broad based support from both president Obama and senator McCain during the presidential election campaign.
RSP said there were currently some 78 million US workers not covered by any kind of employer-sponsored retirement savings scheme.
In addition, the budget proposal on Saver's Credit would see the scheme expanded to provide a 50% match on the first $1,000 of retirement savings for families earning up to US$65,000.
Proposed changes to The Pensions Regulator's (TPR) notifiable events framework so it can be more proactive when corporates make changes will create a very challenging workload, it has been said.
Aviva has created a new pension skill for Amazon Alexa that allows customers to find out how much they have saved towards their retirement.
PP has compiled a list of what to watch out for over the coming months.
The proposed cold-calling ban may be ineffective if a collaborative regulatory approach between the UK and the European Union (EU) is not maintained post-Brexit, the Pensions Management Institute (PMI) has warned.