AE
Employers need to bridge the gap between members' retirement income levels
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).
Pensions bill lite misses obvious opportunity for AE reform
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.
Pension 'blind spots' leave employees struggling to understand benefits
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 seven years on: Has it been a success story?
AE has successfully brought millions of people into pension savings. But, as Kim Kaveh writes, it is far from perfect.
Pensions tax relief to 'cost' government £40bn this year
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).
Don't limit DC savers' choice, respondents say
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.
ACA calls for key policy measures to be included in pensions bill
The Association of Consulting Actuaries (ACA) has called for five key policy measures to be included in the upcoming pensions bill.
Industry split on compulsory workplace pension membership
A narrow majority of this week's 108 Pensions Buzz respondents said there was no need to make workplace pension scheme membership mandatory.
Thérèse Coffey reaffirms government pension plans at Tory conference
Work and pensions secretary Thérèse Coffey has reaffirmed the Department for Work and Pensions’ (DWP) pension commitments just over three weeks after taking office.
Limit choice to tackle unsuitable retirement decisions, says OECD
Britain is not alone in the challenge of getting people to save for pensions, according to the Organisation for Economic Co-operation and Development (OECD).
ACA: Pension coverage remains patchy and employee saving still insufficient
The government must take action to build on the successes of auto-enrolment (AE) and ensure coverage and contribution rates are increased, the Association of Consulting Actuaries (ACA) says.
No evidence to suggest opt-out surge after April contribution rate hike, TPR says
There has been no evidence to suggest that a “significant number” of people have opted out of their pension scheme after the final contribution rate hike, The Pensions Regulator (TPR) has said.
Retirement confidence on the rise, finds Aegon
Retirement confidence is on the rise, with more than half of savers yet to retire feeling they will be able to do so comfortably, according to research by Aegon.
Exclusive: Finance professionals receive highest employer contributions in UK workforce
Finance and insurance professional's employer pension contributions average 9.5% - the highest among 17 industries offering defined contribution (DC), according to Profile Pensions.
Respondents unsure if Guy Opperman will remain in post
This week's Pensions Buzz respondents were unsure whether Guy Opperman will stay in post as pensions and financial inclusion minister under the new Prime Minister.
Ed Balls: Consensus politics is a UK strength, but fragile now
James Phillips spoke to the former shadow chancellor at PBUK about how politicians must embrace the benefits of long-term policy creation through independent and cross-party thinking.
TPR launches probe into 'shape-shifting employers' dodging AE duties
Companies which have tried to dodge their pension duties by changing their identities are being "hunted" by The Pensions Regulator (TPR) in a crackdown on non-compliance with auto-enrolment (AE).
We need a new independent pensions commission, say Buzz respondents
Pensions Buzz peers agreed with pensions and financial inclusion minister Guy Opperman and former shadow chancellor Ed Balls that now might be the time for a fresh commission.
Ed Balls: I back Opperman on need for fresh pensions commission
Ed Balls has backed the idea of holding a fresh pensions commission after the minister for pensions and financial inclusion, Guy Opperman, indicated support for such a review.
Minimum AE contribution rates could rise to 12% by 2030
Auto-enrolment (AE) minimum contribution rates could rise to 12% by 2030, with a 50/50 split between employer and employee, the Pensions and Lifetime Savings Association (PLSA) says.
Female participation in workplace schemes soars as a result of AE
The number of women participating in a workplace pension has increased by 70% since auto-enrolment (AE) began, analysis by Equiniti reveals.
Occupational scheme membership rises to 45.6 million people
Membership of occupational pension scheme membership has risen to a record high of 45.6 million people as of the end of last year, according to the Office for National Statistics (ONS).
Government must show leadership on AE
Steps to improve auto-enrolment are uncontroversial and obvious, but the government is dawdling on introducing the necessary changes, argues Jack Jones.
Living Wage Foundation campaign to tackle work insecurity still leaves workers ineligible for AE
The Living Wage Foundation has launched a campaign to tackle work insecurity after research found one in six workers are in low-paid, unstable work.
