Up 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.
Posts Tagged ‘Spanish Investment’
Pension changes 'not understood' by most employers – could cost £1,000 per employee
Monday, June 21st, 2010Company Pensions – ‘end of road’ for final salary schemes
Friday, May 28th, 2010Fifteen of the FTSE 100 companies now have company pensions liabilities that are greater than the equity market value of the company. Experts predict that this spells the end of the final salary pension scheme.
Lower earners and self-employed need pension planning
Thursday, May 20th, 2010The more you earn, the more likely you are to pay attention to good pension planning, either by joining a company pension scheme, or setting up a personal pension scheme. Lower earners and the self-employed are the social groups most likely to neglect pension planning, according to new research from the Office for National Statistics (ONS).
Personal pensions a priority as occupational pensions crisis continues
Friday, May 14th, 2010Marks and Spencer and the Wedgwood Museum are the latest to report crippling debts from their occupational pensions schemes. Employees must increasingly consider private pension schemes, as final salary pension schemes continue to shut down.
Company pensions advice critical for high earners – PCS
Monday, May 10th, 2010
New rules on taxation may mean that standard company pensions are now an inefficient way of retirement saving for high earners, according to the pension benefits consultancy Pension Capital Strategies (PCS). Quality pensions advice from qualified specialists is needed to evaluate the new realities for members of company pensions schemes.
Taxman takes 30% of pension income in direct and indirect tax
Friday, April 30th, 2010
The average UK retired household pays out 30% of pension income to the taxman, according to new data published by insurer MetLife Europe.
UK pensioners lose this large slice of their pension income through a combination of direct and indirect taxes, which nets a total of £34 billion for the Revenue.
Pension advice crucial in pensions transfers
Monday, April 19th, 2010Pension advice is crucial for those considering transferring a pension – especially those in an occupational pension scheme who are being encouraged to transfer by an employer. Care is needed, though, as the standards of pension advice vary widely, and are still causing concern to the Office of Fair Trading (OFT).
Don’t wait for Government – act now on your personal pension
Friday, January 8th, 2010
As the government rebrands its personal pensions scheme as NEST (National Employment Savings Trust), industry experts are warning savers not to wait for the new workplace pension scheme, which will not be fully operational until 2017.
Pension quality mark for occupational pension schemes shows flaws in government plan
Tuesday, January 5th, 2010
Flaws in the government’s planned ‘Personal Account’ pension scheme have been highlighted by new quality standards for company or occupational pension schemesfrom the National Association of Pension Funds (NAPF).
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