Just over two years ago the first workers were auto-enrolled into a workplace pension. Since then around 28,000 businesses have auto-enrolled a total of just over 4.5m workers. This clearly indicates success; but the story is far from complete.
The Treasury will announce today that they will give savers more freedom over how they take a tax-free lump sum from their pension.
With mounting evidence indicating that many employers are missing their staging dates for auto enrolment implementation, it is becoming worryingly apparent that the rollout amongst SME’s is not going as smoothly as had been hoped.
Life at older ages will look very different for women in the early 2020s than it does today. They are likely to be healthier, their husbands will live longer, and they will be much more likely to be in paid work.
The recent changes in pension rules announced in the Budget have led 43 per cent of employers to look more favourably on defined contribution (DC) pension plans.
When are you staging for auto enrolment? If you’re not familiar with the term ‘staging date’, it’s the date by which your business must have complied with the new workplace pension legislation.
Squeezed between the soaring cost of living, and wages that have fallen an average £1,600 in real terms, Brits are finding it harder to save money.
Pension-led funding allows you to invest your own pension into your business.
Are you an employer? Then this article is essential reading for you, because a considerable change is underway that will have a large impact on all businesses that employ workers in the UK.
The consequences of George Osborne empowering us to do as we wish with our pension pots are truly massive. Not least for investment in SMEs, says The City Grump.
Many SMEs continue to underestimate the requirements of auto-enrolment pension laws, despite 6,000 businesses being less than 50 days away from their staging date.
Until now, only the largest employers have automatically enrolled their workers, but that is about to change. Here is what small business owners need to know.