Automatic Enrolment: Labour proposes greater access for lower paid workers

Auto EnrolmentLabour has proposed changes to the Automatic Enrolment rules, which could see an extra 1.5 million workers join a workplace pension. At present only workers earning above £10,000 per year must be automatically enrolled. Employees earning between £5,772 and £10,000 are classed as ‘non-eligible jobholders’ and as such are not automatically enrolled. However, if they choose to join a workplace pension their employer must contribute. The threshold has led to criticism that millions of workers, the majority of whom are women, will miss out on a workplace pension....

Automatic work place pension scheme working better than expected

Retirement planA new study conducted by Towers Watson, a firm of pension consultants, has revealed that 90% of employees are continuing their membership after being enrolled automatically in a work place pension scheme. Over the past few years, concern has been mounting that workers are generally not saving enough for retirement. This led to the introduction of the Auto Enrolment, starting in October last year, which now means employers must automatically enrol employees into a work place pension. Retirement experts had been concerned ...