Losing the Pension Pot?

The Office for National Statistics (ONS) released its annual survey of occupational pension schemes in June 2019 and this identified some interesting trends in relation to Workplace Pensions. One of the key statistics that instantly jumped out at me, was a surge in the number of dormant pensions in recent years. Since auto enrolment was […]

Is 2019 the year to focus on staff retention and recruitment?

They say any business is only as good as the people it employs – and whilst most employees seek job security in difficult economic times, an improvement in these conditions can lead to those same people looking for something bigger, better, or different. Recruitment used to focus on salary, but as the makeup of the […]

How will Brexit affect my Pension?

It feels like Brexit has been going on far longer than the two and a half years since the original vote, but is something that we, as pension advisers, are talking about more than ever. Why? Because when we meet with individuals, many of them – both UK and EU Nationals – ask us the […]

How does an employee’s personal finances affect your business?

As we’ve frequently referenced in previous insights, an employee’s mental health can have a significant influence on their performance and behaviour at work and one of the biggest issues affecting an individual’s emotional wellbeing is their financial situation. There is often a link between someone struggling with money and poor mental wellbeing and if an […]

Introducing New Employee Benefits

Although Workplace Pensions have dominated the world of employee benefits over the last 5 years, employers are still encouraged to regularly review and refresh their benefits package to ensure the offering remains both attractive and relevant to employees. So how can benefits be delivered in the most positive way, whilst also avoiding the common mistakes […]

Can an Employer’s pension scheme still attract and retain key employees?

When the Workplace Pension Reforms were first introduced, minimum pension contributions were set that an employer had to pay to their Workplace Pension Scheme, increasing over time.  Whilst Auto Enrolment has been the norm for some time now, it’s amazing to think that we have only just reached the first increase in contributions, from 2% […]

The Pensions Regulator is ‘flexing its muscles’

Everyone involved in the running and management of a pension scheme – employers, advisers, trustees and administrators – should understand the compliance and enforcement interventions being undertaken by The Pension Regulator (TPR), as this will help prevent any penalties being imposed. TPR’s approach is based on trying to stop problems developing in the first place […]

DWP’s Auto Enrolment Review 2017

In December 2017, the DWP published their latest review document “Automatic Enrolment Review 2017:  Maintaining the Momentum”. This considers the success of Auto-Enrolment (AE) to date, and what changes may be required to build on that success in future years. Government’s objectives are that it wants to continue to normalise pension saving among workers; help […]

Auto Enrolment Contribution Increases

Auto Enrolment minimum contributions must increase from the current minimum rates on 6 April 2018 and again on 6 April 2019. As such in order to remain a qualifying scheme, all automatic enrolment pension schemes with contribution rates below the new minimums must increase. The minimum employer contribution rates are just that. If an employer […]

Reminder: Pension Contribution limits for ‘High Earners’

You may be aware that from 6th April 2016 there were changes made to pensions that will affect higher earners. Contributions made this tax year are restricted to as little as £10,000 for those with £210,000 of earnings. However, because of how the rules work, they can affect those with income as low as £110,000 from all […]