AE

Just 23% of blue collar construction workers are saving into a workplace pension, a Freedom of Information (FOI) request by Unite has revealed.

The People’s Pension (TPP) has urged the next government to improve saving for low paid workers and increase pension transparency ahead of the 12 December general election.

The NEST members’ panel is calling on the government to start reducing the £10,000 auto-enrolment (AE) earnings threshold, before the move to start contributions from the first pound earned.

Waiting for the mid-2020s to allow AE members to save from the first pound means they will miss out on big boosts to retirement pots, says Nigel Stanley.

It is the role of employers, the pensions industry, and the government to close the gap between minimum and moderate levels of income in retirement, according to the Institute and Faculty of Actuaries (IFoA).

Failure to include auto-enrolment reforms in the Queen’s Speech and the pension schemes bill will make big problems even bigger, says Jack Jones.

Workplace pension schemes may not be doing enough to fix ‘pension blind spots’ as many workers remain unaware of the benefits available to them, the Money and Pensions Service (MAPS) has found.

AE has successfully brought millions of people into pension savings. But, as Kim Kaveh writes, it is far from perfect.

The government will pay out £21bn in income tax relief for pension contributions this tax year, while national insurance relief payments will rise to £18.7bn, according to statistics from HM Revenue and Customs (HMRC).

Defined contribution (DC) savers should not have their choices limited when it comes to savings plans and retirement decisions, a majority of this week’s 93 Pensions Buzz respondents say.