Auto-enrolment

Almost half of Britons below retirement age had no pension savings in the years 2010-2012, the Office for National Statistics (ONS) has revealed.

Pension providers that "cream off profits" and withdraw from the auto-enrolment (AE) market just as small and medium-sized employers (SMEs) stage should be fined, Defaqto says.

National Employment Savings Trust (NEST) remains the largest auto-enrolment (AE) master trust with over 1.5 million members as of 1 September 2014.

Half of employees on lower incomes are now saving adequately for retirement due to automatic enrolments according to research.

Toby Strauss, the chief executive of Scottish Widows, has said the pensions industry is in danger of "breaching its capacity to cope" following the far-reaching changes announced at Budget 2014, unless it is afforded some breathing space by policymakers....

Pensions minister Steve Webb has confirmed that restrictions on the National Employment Savings Trust (NEST) will be abolished in April 2017.

Questions about retirement planning were far and away the most common reason for calling The Pensions Advisory Service (TPAS) last year.

Auto-enrolment (AE) has prompted employers to take a wider look at their benefits offering.

The Department for Work and Pensions (DWP) says its auto-enrolment policy is proving successful, with almost three quarters of the population aware of the flagship programme.

Aegon UK has estimated the charge caps for auto-enrolment business will cost it between £20m to £25m a year, as it reported a 30% rise in pre-tax earnings for the second quarter.