Pension scams put savings at risk

Over-55s are the targets of repeated cold-calling and email scams offering fake pension opportunities. 5 months after the introduction of the new pension  freedoms, 40% of Citizens Advice pension staff have come  into contact with people affected by pension scams. Around  10% have seen people fall victim to scams.  Of those contacted by scammers, 80%[…]

Small firms gear up for auto-enrolment

Small businesses employing 40-49 workers will begin complying with their auto-enrolment duties from 1 August. The dates when businesses begin complying with auto-enrolment are known as staging dates. From this date employers are required to have enrolled employees onto a workplace pension scheme, written to staff members and signed the declaration of compliance. The staging[…]

Auto-enrolment: infrequently asked questions

A guide to the finer points of auto-enrolment. The process of auto-enrolment continues to rumble on quietly with the majority of companies passing their staging dates without major incident. However, for the few that fail to comply with their workplace obligations, the consequences can be costly in time and resources. The Pensions Regulator has released[…]

Auto-enrolment exemptions introduced

Employers will no longer need to auto-enrol employees in certain circumstances after regulatory changes were introduced in April 2015. From 1 April 2015, the following types of employee will not need to be auto-enrolled: individuals who are leaving employment those who cancel scheme membership before auto-enrolment employees whose existing pension savings have tax-protected status. The[…]

Your money: Pension reforms explained

It’s been over a year since the Chancellor first announced reforms to how people can access their pension savings. We look at what you need to know about the changes: Flexibility in retirement From this April, people aged over 55 will be able to take their defined contribution pension funds in multiple cash lump sums.[…]

Auto-enrolment contribution increase could affect small firms

Small businesses could struggle to comply with an increase in auto-enrolment pension contributions, according to a report by the Association of Consulting Actuaries (ACA). The ACA is concerned that small firms will struggle to deal with the short period of time between auto-enrolling their employees in 2015 and 2016 and the minimum contribution increases in[…]