feedback. It intends to use some of the information presented in this report to create a summary report specifically for members.
NEST does recognise the vast challenge of being able to communicate to and effectively engage with over 7 million members. However, with real commitment and the help of stakeholders NEST hope this is a challenge it can successfully overcome.
The report reveals that more workers are now considering the quality of an employer’s pension when deciding where to work. 37% in 2017 compared to 15% in 2014.
However, engagement in pensions is still low. Across the working population 17% of workers can’t name their pension provider.
The report covers five key topics:
Thinking about members - looks at the key findings from some of the research NEST has done with members over the year.
ESG issues - how NEST is addressing specific environmental, social and governance (ESG) issues
Creating better functioning markets - looks at how NEST has engaged with stakeholders and industry bodies and the contribution it is making to help raise standards across the investment industry
Active ownership - provides a snapshot of key voting decisions and engagements undertaken with investee companies over the year
Looking ahead - describes NEST priorities over the next year
The full report Building New Norms is available to download.
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Employers cannot opt a worker out of a pension scheme, even if the worker agrees 29 October 2018
This clear message was sent to employers by Derby Crown Court when it handed down the first custodial sentence for a case brought by The Pensions Regulator (TPR).
Workchain Ltd, a national recruitment agency, its directors and senior staff have been ordered to pay more than £280,000 for plotting to illegally opt temporary workers out of their pension scheme. The prosecution of Derby-based Workchain Ltd and its staff has led to the largest fine and first custodial sentences for a case brought by TPR. Owners and directors of Workchain Ltd, formerly known as Smart recruitment, encouraged five senior staff to opt workers out of a scheme to avoid making pension contributions on their behalf. They phoned NEST posing as their temporary workers in order to obtain the employees’ account ID numbers and then logged onto NEST’s online portal and opted the workers out of their pension scheme. This is an offence under the Computer Misuse Act 1990.
Derby Crown Court, Judge Nirmal Shant QC told the defendants their “co-ordinated effort” had been an “attempt to steal a march” on their competitors.
Judge Shant QC ordered Workchain (formerly known as Smart Recruitment UK Ltd) to pay a £200,000 fine and £60,930 costs. Tong and Hinkley were each given a four-month prison sentence suspended for two years and were ordered to complete 200 hours of community service and to pay £11,250 costs. Armson was given a two-month prison
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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