Professional Pensions reports: Bluesky, which offers schemes to the electrical contracting industry, will throw its doors open to all employers regardless of sector to offer the scheme to workers from 1 January 2012 ahead of auto-enrolment and NEST being introduced next year. The firm's ‘Enhanced Alternative to NEST' offering has been developed to incorporate target date funds, working in conjunction with AllianceBernstein to use their Dynamic Asset
Allocation glidepath approach to investments. Read the full story from Professional Pensions
NEST RESEARCH SHOWS PENSION JARGON STILL A BARRIER TO SAVING
11 January 2012 In the year that millions will start saving for their retirement for the first time, new research by NEST shows that very few people think pensions are straightforward, easy to understand, simple, interesting or engaging. In the year that millions will start saving for their retirement for the first time, new research by NEST shows that very few people think pensions are 'straightforward' (6 per cent), 'easy to understand' (4 per cent), 'simple' (3 per cent), 'interesting' (5 per cent) or 'engaging' (2 per cent). Only one in seven respondents (15 per cent) finds the language used to describe pensions straightforward and easy to understand and only one in 14 (7 per cent) thinks information from pension providers is better quality than other types of financial information they have seen. The words people more strongly associate with pensions are 'confusing', 'complicated' 'boring', 'difficult' and 'off-putting'. The research results, released by NEST alongside a new version of its jargon-busting phrasebook ( Download the NEST phrasebook v2.0 ), also shows that more than half (57 per cent) say that sometimes pensions seem so complicated they can’t understand the best options available, while one in three people (29 per cent of all respondents and 39 per cent of NEST’s target group) are putting off thinking about saving for retirement because they find pensions confusing. NEST people and a number of journalists have taken part in some light-hearted videos on pension jargon terms, along with more serious comments, which are now live on NEST’s YouTube channel . 24 January 2012 Pensions minister Steve Webb is considering lifting the statutory restrictions on the National Employment Savings Trust in response to new entries to the auto-enrolment market. Professional Pensions Reports: In House of Commons on Monday, the minister said he would discuss the issue in more detail with the Department for Work and Pensions select committee on Wednesday. DWP CONSIDERS SCRAPPING NEST RESTRICTIONS
CIPP Policy News Journal
09/10/2012, Page 167 of 234
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