Back to the Future
I was born in 1973 and recall at school in the early 80’s talk wasn’t about the great new car someone’s parents had got or a recent holiday but unfortunately whose dad had lost his job that week. I was reminded of this recently when BBC 6 music had their celebration of Kate Bush’s first […]
Have you lost something?
Did you know that it has been estimated there could be about 2.8 million lost or forgotten pension pots out there, worth an average of £9,500 each– over £26.6 billion in total. As many as 1 in 20 people could have lost a pension – so it could be you! It can easily happen if you haven’t updated your address details […]
Pension transfers replaced by Wingate Engage
There has recently been a lot of press concerning pension scams and the problems with the misinterpretation of recent legislation flagging simple DC to DC pension transfers as high risk and needing additional investigation before transfers can be processed. There is also a lot of marketing from new tech providers like Pension Bee who are […]
Financial Wellbeing affecting job performance
Recent research by financial platform Mintago who polled a total of 436 people in the UK who were all employed full time and between the ages of 18-34, confirmed a third believed their job performance is being harmed by financial concerns whereas only 9% of employees aged 55 and up shared this sentiment. The survey […]
Finance Bill confirms minimum pension age rise
The recently published Finance Bill confirmed an increase in the minimum pension age to 57 from April 2028. However there could be changes between the Finance Bill becoming the Finance Act. Individuals do not have the ability to protect a retirement age of 55. However schemes that had the right to take benefits at 55 in their […]
The impact of pension annual allowance changes on high earners
You may have forgotten but significant changes were made to pension tax relief for high earners on the 6th April 2016 and further changes have been made in subsequent Budgets. The original legislation meant that individuals with threshold income of more than £110,000 and total earnings in excess of £210,000 could only contribute £10,000 per […]
How to improve recruitment
Are you one of the many employers who only communicate employee benefits to new recruits as part of the on boarding process after an offer letter has been accepted? Were you aware that recent research conducted by GRiD, the industry body for the group risk sector, showed that 29% of employers think that ‘benefits are […]
Workplace pension compliance and options in Covid
Since the first lockdown parts of the economy and businesses have been suffering hardship and unfortunately the recent lockdown has not helped. Who knows what is around the corner with the forthcoming regional tiered lockdown? To date there has been some help from government with the initial furlough scheme covering some wages and employer pension […]
Impact of Salary Sacrifice pension contributions on furloughed employees
I expect you have been inundated by emails related to Covid and the Coronavirus Job Retention schemes (CJRS), unfortunately a lot of them are full of jargon and not necessarily relevant to your circumstances. At Wingate we have been in regular contact with our clients and understand acutely as an employer ourselves, what is needed […]
Auto Enrolment Pension Contribution Basis – Self Certification
Auto Enrolment Pension Contribution Basis – Self Certification It is now 12 years since the government introduced the Pensions Act 2008 which led to the most significant change to workplace pensions for a decade, “Auto Enrolment”. I expect you assume like most employers that auto enrolment is finished and adding staff to the pension is […]
