Undersaving Britain
Pension saving is at its lowest level for 10 years according to recently published Department of Work and Pensions (DWP) analysis by the Family Resources Survey (FRS), a key source for pension information. The analysis came from interviews with around 25,000 private households across the UK in 2009 and 2010. Read more →
Pension auto-enrolment must be postponed – IoD
The Institute of Directors has called for the Government to postpone the phased introduction of its controversial pension auto-enrolment scheme for two years, until 2014. At present, the plans will see some employees being enrolled onto the scheme from October 2012.
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Q&A on the National Employee Savings Trust (NEST)
What is NEST?
Basically, it means that all companies who aren’t exempt will have to offer staff a company pension scheme. It is a new scheme aimed at increasing the level of retirement saving in the UK by requiring both employers and employees to contribute to a pension scheme. Employers may be exempt if they already contribute to a pension scheme for employees at a level at least equivalent to the NEST requirements. It used to be called the Personal Accounts Pension Scheme. Read more →
What does pension auto-enrolment mean for you?
At present, many workers fail to take up valuable pension benefits because they do not make an application to join their employer’s scheme. From 1 October 2012 (subject to an employer’s own introduction date), all eligible workers will be automatically enrolled into their employer’s qualifying pension scheme without any active decision on their part. Read more →
