Auto-enrolment
Government's Covid-19 response is missed opportunity to revisit AE
Michael Ambery argues that AE faces a potential key fork in its journey, with the government missing a prime opportunity with the Kick Start Scheme, and employers need to step up instead.
Updated: DWP launches review into default fund charge cap and standardised cost disclosure
The Department for Work and Pensions (DWP) has launched a review to assess the effectiveness of costs, charges and transparency measures in protecting pension member outcomes.
DWP: Nine in ten eligible employees save into pensions in 2019
The number of eligible employees saving into a workplace pension rose by one percentage point to 88% between 2018 and 2019, Department for Work and Pensions (DWP) statistics show.
TPR uses AE powers over 35,000 times in first quarter
The Pensions Regulator (TPR) used its auto-enrolment (AE) enforcement powers more than 35,000 times in the first quarter of this year, with over 11,000 compliance notices dished out.
Savings habit evident as Nest records few opt outs from AE rate hike
Just a minority of Nest members opted out of their pensions in the immediate aftermath of the second phased auto-enrolment (AE) contribution increase, the master trust reveals.
IFS: Has AE been too successful?
Thousands of the country’s most financially insecure individuals are remaining in auto-enrolled schemes even if it may not be in their best interests to do so, the Institute for Fiscal Studies (IFS) finds.
How to meet AE duties for furloughed workers
While furloughed workers are still entitled to pension contributions, Justin Corliss says employers must consider the impact of Covid-19 on their duties.
David Fairs: Regulation in this new normal
The Pensions Regulator is anxious to meet the industry’s expectations, but this latest challenge does not come with a manual. Hope William-Smith speaks to David Fairs.
Should the UK's lowest-paid workers be auto-enrolled in pensions?
Jon Dean looks at whether the AE system can be adapted to meet low earners’ needs and lower financial resilience.
Coronavirus job retention scheme will cover AE contributions
Furloughed workers will continue to receive pension contributions under the government’s coronavirus job retention scheme, HM Revenue & Customs (HMRC) has confirmed.
Employers still expected to meet AE duties amid speculation over contribution holiday
The government has said it will “do whatever it takes” to support businesses through the Covid-19 coronavirus crisis, leading to speculation that there could be a short-term change in auto-enrolment (AE) policy.
Majority of industry back extension of auto-enrolment age
Four in five of Society of Pension Professionals (SPP) members say the minimum age criterion for auto-enrolment (AE) should be dropped while two thirds also want it expanded to age 75.
TPR carries out spot checks on large employers
The Pensions Regulator (TPR) is carrying out spot checks on the UK’s largest employers to protect savers and ensure staff continue to receive the pensions they are due.
Government must usher in decade of AE renewal
The government must take advantage of its majority to push through further reforms to auto-enrolment, says James Phillips.
Former accountant fined for misleading TPR over workplace pension duties
The Pensions Regulator (TPR) has fined a former accountant £4,987 after he failed to enrol staff into a workplace pension scheme.
Government announces March Budget
HM Treasury has confirmed that the government will hold its Budget on 11 March.
Net Pay Action Group urges government to deliver pensions tax manifesto pledge
The Net Pay Action Group (NPAG) is urging the government to deliver on its manifesto pledge to review unfair tax rules in pensions.
Master trusts liable for quarter of general levy costs despite holding only 2% of funds
Ten master trusts will pay at least 25% of the total general levy despite holding just 2% of assets, according to The People’s Pension (TPP).
Government must get moving on removing AE earnings triggers
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.
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.
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.
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.
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.
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).
