No spike in AE opt-outs, despite contribution hike: DWP
This is the first data it has published since contributions increased in April 2018, where employees saw their contributions rise from 1 per cent to 3 per cent of earnings. The evaluation...
DC
DWP confirms pension ombudsman appointment
Arter has also been reappointed as the Ombudsman for the Pension Protection Fund, again for a further two-year period. The Pension Ombudsman investigates complaints and disputes about personal and occupational pension schemes....
Microsoft aims to shake up workplace pensions market
Although this will initially only be available to US employees, the partnership between Microsoft and BlackRock could provide a seismic shift to the workplace pensions market across the globe. This joint initiative...
CMA publishes final report into investment consultancy sector
The Competition and Markets Authority has demanded a range of reforms to improve competition in the investment consultant and fiduciary management sector. This recommendations come as the CMA publishes its final report...
TPR launches first fraud prosecution
The Pensions Regulator has launched its first fraud prosecution against an accountant accused of taking cash from a pension scheme. This is the first time the regulator has charged an individual with...
Royal London CEO to step down
Next year will see significant changes at the top of Royal London, with the insurer announcing that its chief executive will step down at the end of 2019. This follows the departure of...
Master trust sector faces significant challenges: PMI report
The Pensions Management Institute has said that the growing master trust sector must overcome “significant obstacles” if it wants to deliver a good service for members. To achieve this end the professional...
‘Net pay’ tax trap widens as Govt freezes AE threshold
The Government has confirmed it is freezing the auto-enrolment trigger at £10,000 for the next year, potentially increasing the number of people who fall into the ‘net pay trap’. Pensions minister Guy...
Widespread support for extension of AE
The majority of people in the UK now support mandatory pension contributions, according to new research. Two-thirds of respondents (66 per cent) support this move according a survey by pension consultants LCP,...
Thousands check pensions after ScamSmart campaign
More than 173,000 people have sought information about pensions scams, since a joint initiative was launched by the Financial Conduct Authority and The Pensions Regulator this summer. This is a five-fold increase...
