Pension Awareness Day is on the 15th of September.
Despite the introduction of pension freedoms bringing an increased need for advice, research from online pension adviser Wealth Wizards has revealed that the majority of Brits avoid seeking pension advice. More than half believe that pension advice will be too expensive and an astounding twenty-nine per cent of Brits don’t seek professional advice as they find discussing their finances and pension provision too embarrassing.
Research conducted by the Pensions Policy institute and sponsored by Age UK found that just under a quarter of all employees are not eligible for auto-enrolment, yet the number of women who do not meet the criteria is double the 16 percent of men.
Andrew Firth, Chief Executive of Wealth Wizards, looks at auto-enrolment, pension reform and the opportunities that exist for employers and employees around advice.
In a survey of over 200 senior HR and finance professionals it was revealed that 85 percent of employers believe this increase should be borne in part, or entirely, by employers.
Wingrave Yeats, the London based firm of business advisors and accountants, unveils a streamlined automatic-enrolment proposition for employers of all sizes.
The cash plan provider believes that the expense of automatically enrolling British staff into pension plans will mean businesses start seeking lower cost benefits for staff.
A new system to stop workers losing their small pension pots as they move from job to job is due to start in autumn 2016.
By 1st February 2018, all employers must have complied with their automatic enrolment duties. Ruth Bamforth breaks down the process.
76% of employers are now noticing an administrative burden from auto-enrolment, an increase of 7% from September 2014.
Two years since the first companies reached their staging dates, auto-enrolment continues to throw up a lot of new challenges to HR and pensions professionals.
If you are over 22 and in work then you may be entitled to extra money from your employer A new government law means that all employers will soon be legally responsible to enrol their staff onto a workplace pension scheme. The new law means that a small percentage of your wage will be paid into…
A new CIPD survey has found that over two thirds (68%) of employers have automatically enrolled eligible workers into a pension scheme and among these, many are contributing significantly more than is legally required to their employees’ pension pots. The survey from the professional body for HR and people development also found that almost half…
It has been announced that The Pensions Regulator has imposed fixed penalty fines of £400 on three employers for not meeting their duties. The Pensions Regulator also issued 163 compliance notices in the three months to the end of September, compared with just 3 notices in the previous quarter. As ever smaller companies reach their…
Close Brothers Asset Management (CBAM) has launched a dedicated platform to guide smaller businesses through the auto enrolment process. CloseToMyPension SMART is designed to streamline the auto enrolment process for employers and provide support at every stage, from initial set-up and communications through to project management pre and post-staging. The package offers access to Close…