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workplace pensions
Auto-Enrolment Thresholds Announced for 2013/14
On 06 September 2012, Pensions Minister Steve Webb announced the Consultation for the 2013/14 revision, suggesting that the Earnings Trigger and the Lower and Upper limits of the Qualifying Earnings Bands remain respectively aligned with the PAYE Threshold, the Lower Earnings Limit (LEL) and the Upper Earnings Limit (UEL). At time of the Consultation, the [...]
Workplace Pensions – In or Out?
The DWP’s current advertisements talk about Workplace Pensions, with ‘well-known bosses’ raising the awareness of Auto-Enrolment. If individuals say ‘I’m In’, they are, effectively, getting a pay increase say the adverts. The DWP expects two-thirds of individuals to say ‘I’m In’ by either remaining Auto-Enrolled, Opting In or Joining a pension scheme. Therefore, about one [...]
Pensions Bill 2011 Receives Royal Assent
The Pensions Bill 2011 has completed its parliamentary stages in both Houses and was granted Assent by the Queen on 03 November 2011. We can now refer to this legislation as the Pensions Act 2011. Together with RTI, the provisions in the Pension Act will undoubtedly involve increased administration for employers. There are a number of areas [...]
Choosing between occupational and workplace pension schemes
DWP response to “call for evidence” warns against choosing an automatic enrolment pension scheme based on assumptions that short service rules will not be changed. On 31 January 2011, the Department for Work and Pensions (DWP) published a “call for evidence” document to explore the regulatory differences between occupational and workplace personal pensions. It considered [...]
