The Department for Work and Pensions has said that 30% of those saving in company pension schemes do not know how the level of pension contributions paid into their scheme by their employer. Employers are under no obligation to contribute to their company pension scheme, although many do so as an incentive to employees. Read More
Posts Tagged ‘NEST’
Pension Advice – Do you know how much your employer pays into your pension?
Tuesday, November 2nd, 2010Pension planning – older workers could be cuckoo to stay in the NEST
Wednesday, October 27th, 2010
The government has confirmed the go-ahead for 2012 of the National Employment Savings Trust (NEST), the new national pension scheme for company employees. The scheme may not constitute good pension planning for older workers over 50. Read More
Plans for NEST company pension ‘under review’
Friday, July 2nd, 2010The government may be planning increases in the Basic State Pension that could endanger plans for the NEST national initiative to provide all workers with company pension schemes. Read More
Age for Basic State Pension to rise 1 year every 5 years
Friday, June 25th, 2010The government is to raise the Basic State Pension age by 1 year every 5 years, to reach 70 in 2035. Anyone aged 45 or younger will now be unable to take their Basic State Pension until they reach 70.
Pension changes 'not understood' by most employers – could cost £1,000 per employee
Monday, June 21st, 2010Up to 69% of employers confess they still do not understand the requirements and cost implications of auto-enrolment of employees into a pension from 2012 – even though the admin alone could cost £1,000 per worker, per year.
Government reviews plans for NEST company pensions
Monday, June 7th, 2010Government is looking again at plans for company pensions in the NEST scheme. Pensions minister Steve Webb has said he will review the ‘scope’ of the scheme, which currently aims to offer company pensions universally, to all employees.
How pension changes save the state money
Thursday, May 13th, 2010Government pension changes likely to be introduced based on pre-election pledges by the Conservatives and the Lib Dems are currently being presented as benefits that will increase pension income from both state and private pensions. Dig a little deeper, however, and we see that the pension changes are primarily designed to save the state money.
Company pensions for all in NEST pensions review
Monday, April 26th, 2010
Every UK company will soon be required to offer pensions to all employees, following the launch of the National Employment Savings Trust (NEST). However, employers who act now can still exempt themselves from NEST by setting up their own scheme.
Apartheid in pension schemes worsens
Friday, March 26th, 2010Private sector workers aged 25, saving into occupational or personal pension schemes, would have to save nearly a quarter of their salary, to achieve the same pension income as their public sector counterparts. Typical total contributions, however, are just 10%.
Pension savings will fund setup of government NEST pension
Monday, March 22nd, 2010
The £600m loan to set up the NEST government pension scheme is to be repaid by a 2% levy on members’ pension savings. Members may also lose state pension credits, because of their NEST savings, experts warn.
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