Uber has confirmed it will automatically enrol eligible drivers into a qualifying pension scheme following its Supreme Court defeat last month.
The government will press ahead with plans to use the “largely untapped pool of capital” in defined contribution (DC) schemes to invest in venture capital and growth equity assets.
Defined contribution (DC) contributions were scaled back by 11% in the second quarter of 2020 as the impact of the pandemic set in, according to the Office for National Statistics (ONS).
The pensions industry must personalise interventions and auto-enrolment (AE) conversations to prevent members from squandering their pots at retirement age, according to industry experts.
A “legitimate debate and discussion” is needed over future auto-enrolment (AE) contribution rates, says Guy Opperman, and that could take place next year.
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.