• PENSIONSANDSAVINGS.COM

    From Ros Altmann:economist and pensions,
    investment and retirement policy expert

  • pensionsandsavings.com

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    Category: Auto-Enrolment, Private Pensions and NEST

    Auto-enrolment first anniversary – many happy returns?

    Auto-enrolment first anniversary – many happy returns?

    1 October 2013 Employers must be warned of complexity and need to prepare at least a year ahead  Can’t leave it till the last minute as capacity crunch looms  Significant challenges still remain despite promising start  Aim to improve pensions for millions:  One year ago today, the first and largest employers became legally obliged to automatically enrol their employees into a pension scheme and pay contributions for them too.  This is a social policy which aims to improve pensions for…

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    OFT Report on industry charges – who is protecting the customer?

    OFT Report on industry charges – who is protecting the customer?

    23 September 2013 NEST charging structure may be responsible for failure to recommend a charge cap – NEST would not comply with a 1% cap! The long-awaited OFT report into pension scheme charges has finally been released – but its recommendations are disappointingly weak in terms of consumer protection. The OFT has done an excellent job in highlighting the excessive charges on older (particularly pre-2001) pension schemes but it has shied away from recommendations that would quickly bring them down….

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    Wouldn’t a 1% charge cap leave NEST out on a limb?

    Wouldn’t a 1% charge cap leave NEST out on a limb?

    OFT report into pension charges expected to propose a 1% cap How does that square with NEST’s 1.8% initial charge? NEST charging structure needs urgent overhaul as it can be poor value The long-awaited report from the Office of Fair Trading, assessing the charges levied on UK pension plans, is about to be released and is expected to recommend a cap on the charges for UK pensions probably of 1%. This recommendation would raise a number of issues.  It is…

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    Auto-enrolment is going well, but it is only a start

    Auto-enrolment is going well, but it is only a start

    8 August 2013 DWP delighted auto enrolment opt-outs much lower than expected Treasury will have to budget for higher than expected tax relief! Encouraging progress in improving private pension coverage, but far more is needed – including annuity reform Auto-enrolment among largest firms has been successful in ensuring more people save in a pension: The DWP has released figures today showing that nine out of ten workers automatically enrolled into their employer’s pension scheme have decided to stay in.  It…

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