The government has set out plans to scrap the auto-enrolment (AE) lower earnings limit and extend the programme to 18-year-olds, but not until the mid-2020s.
Defined contribution (DC) occupational schemes will be forced to disclose to members costs and charges associated with investing their retirement pots, the government has announced.
A significant majority (72%) of the public are unaware minimum employee auto-enrolment (AE) contributions could triple from 1% to 3% next April.
Over 80% of workers who qualify for automatic enrolment (AE) believe a workplace pension is good for them, a Department for Work and Pensions (DWP) survey has revealed.
Plans to raise the state pension age (SPA) to 68 seven years ahead of schedule by 2039 has been welcomed by the industry as a necessary move to reflect rising life expectancy and keep costs affordable.
The Department for Work and Pensions (DWP) will publish a white paper on the future of defined benefit (DB) schemes this winter, which will cover consolidation and extra powers for the regulator.