Only 43 per cent of employees who currently do not have a pension would remain in a scheme once they were automatically enrolled.
The findings from Aviva highlighted the challenges of getting workers to save for their retirement and demonstrated that opt-out rates could be...
The financial education agenda is gaining pace, especially with the upcoming implementation of auto-enrolment. Pay & Benefits gathered together industry insiders to discuss the topic.
In these tough economic times, when people up and down the country are struggling to make ends meet, it is arguably more important than ever for employers to offer their staff support in the form of financial education at work.
Now is also the time employees need to start rethinking...
A landmark age discrimination case is due to be decided which may have an impact on compulsory retirements.
In Seldon v Clarkson Wright and Jakes [2010] IRLR 865, Seldon was a Partner in the respondent firm of solicitors. He was compulsorily retired following his 65th birthday, as laid...
The Treasury will fight against European Union plans to introduce measures which will make pensions more expensive.
In a letter to lenders, Finance Secretary, Mark Hoban, made assurances that the Government would oppose Solvency II type rules which were designed for the...
Businesses are being given the opportunity to bring forward their auto-enrolment staging dates to suit their needs.
The Pensions Regulator (TPR) has published details of alternative timescales for employers, offering those scheduled to start the process in October and November...
Plans for private sector workers to have guaranteed pension pots have been proposed by Steve Webb.
The Pensions Minister wants employers to offer an alternative to the final salary arrangement, which has now largely been discarded in favour of defined contribution schemes....
More than two-thirds of employers intend to use their existing defined contribution (DC) scheme for auto-enrolment.
Research from Towers Watson shows that the National Employment Savings Trust (NEST) has been largely sidelined as an option for the new legislation, increasing...
Tesco has raised the age at which employees can begin to claim a full pension from 65 to 67.
The retail giant also told staff that it would move from the Retail Prices Index, which is generally the higher inflation indicator, to the Consumer Prices Index for indexing pension...
The levy on state pensions should be lifted, saving pensioners around £1,000 a year in Income Tax, according to the Office of Tax Simplification (OTS).
Tax advisers for the Treasury said that the current rules for those in retirement are confusing and many feel that the...
Confidence in pensions falls as a third of employees say they will opt out of auto-enrolment, according to the National Association of Pension Funds (NAPF).
Research carried out by the Association found that a lack of trust in the industry may be the main cause of opt-outs. A...
Alan Foley explains the back-office implications of auto-enrolment and the preparations that payroll managers and employers should consider.
From October this year, all employers will begin being legally required to enrol their employees automatically into a qualifying pension scheme. The introduction of automatic enrolment will be phased in over four years, starting with the largest employers on 1 October 2012. They will be...
Low and irregularly paid workers may become “accidentally” caught up in auto-enrolment provisions, warns Helm Godfrey.
Employers could face unexpected additional administration and contribution costs for low-paid employees who they may have previously discounted...
Automatic enrolment is the main employer duty under the new laws on workplace pensions. As part of this, organisations will need to enrol certain staff into a pension scheme “automatically”, without those employees having to do anything.
The deadline is approaching...
ust under half of large employers are ready, or are operating, an auto-enrolment model, according to findings from Aon Hewitt.
The Benefits & Trends Survey reveals that auto-enrolment is the biggest priority for companies in 2012. The three most pressing employee benefits issues...
The revised timetable for implementing auto-enrolment has been confirmed, along with a delay in the minimum contribution levels.
Pensions Minister, Steve Webb, verified that it will take an additional year before employers will have to contribute the basic amount to an employee’s...
