Workie says: 'Don't ignore the workplace pension'
A new character has been introduced with the launch of a campaign which aims to change the country's perception of pensions in the workplace.
'Workie' will be seen visiting people in all sorts of work environments over the coming months, asking them not to ignore him.
While automatic enrolment into workplace pensions has been rolling out across the UK since 2012, it is only now that up to 1.8 million small and micro employers are being required to take action to help their staff to save for later life
For more information please visit www.workplacepensions.gov.uk .
Latest automatic enrolment numbers
Our latest quarterly report on automatic enrolment provides information about our cases and the powers we have used relating to automatic enrolment and associated employer duties.
This report also includes lessons learned from some recent Tribunals.
Between July and September this year we issued:
Compliance notices: 469
Unpaid contributions notices: 85 Fixed penalty notices: 107 Escalating penalty notices: 2
New interactive web journey launched for small and micro employers
To help reduce the challenge of automatic enrolment for small employers, we've launched a new interactive step- by-step online guide .
It's designed to meet the specific needs of these employers who may not have pensions experience, including those with just one or two members of staff.
The guide provides clear and accessible information for employers on what to do, and by when, using videos, animations and infographics.
Pensions committee calls for improved pensions freedom advice 6 November 2015 The Work and Pensions Committee has published a report on pension freedom guidance and advice which has revealed particular concerns about the near complete lack of data about Pension Wise and the absence of a research programme tracking consumer outcomes. Background Reforms introduced in April 2015 gave people aged 55 and over greater freedom to choose how and when to access their defined contribution pensions. Where previously most people were required to purchase an annuity, they now have access to a range of potential options regardless of circumstances. These include drawing down income from a fund that remains invested or taking a pension as cash. The government also established Pension Wise, a free guidance service, to support people in making these complex decisions. Support is also available from other free sources, pension providers and independent financial advisers. However, the Committee heard concerns that the range of support on offer leaves gaps, particularly in the affordable middle ground between free general guidance and expensive independent advice. Statistics There is a shortage of information about the use being made of pension freedom. This makes assessing the progress of the reforms very difficult. There were particular concerns about the near complete lack of data about Pension Wise and the absence of a research programme tracking consumer outcomes. The Committee recommend that these omissions are addressed with urgency. The full report can be accessed through the Parliamentary publications . In summary:
CIPP Policy News Journal
25/04/2016, Page 376 of 453
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