This call for evidence is also seeking input and evidence on provisions related to regulations made under Sections 96 and 97 of the Pensions Act 2008, namely The Occupational and Personal Pension Schemes (Automatic Enrolment) (Amendment) Regulations 2012 and The Automatic Enrolment (Offshore Employment) Order 2012, which respectively include seafarers and offshore workers within automatic enrolment. The call for evidence aims to test whether these regulations are working as intended in enabling seafarers and offshore workers to be automatically enrolled into workplace pensions.
Geographical extent - the call for evidence on alternative quality requirement tests applies to England, Wales and Scotland. The call for evidence on seafarers and offshore workers applies UK-wide.
The call for evidence will run until 30 August 2017.
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Auto enrolment - NOW: Pensions removed from the master trust assurance list 26 July 2017
NOW: Pensions has been removed from the master trust assurance list at its own request. No action is required from employers.
The Pensions Regulator (TPR) has been actively reviewing the position of NOW: Pensions on the list due to concerns about the governance and administration of the scheme, including delays processing some contributions and communicating with a portion of members. The scheme trustee and NOW: Pensions have requested that their scheme be removed from the master trust assurance list, which TPR welcomes and supports. TPR has amended the online list to reflect this change; 22 schemes remain on the list, 12 of which have said that they are open to small employers.
Nicola Parish, TPR’s Executive Director of Frontline Regulation, said:
“Those in the master trust marketplace should be in no doubt that we will act if we become concerned about the way schemes are being run, no matter the size of the scheme involved. Schemes have a responsibility to meet specific criteria required to remain on the master trust assurance list. If a scheme fails to meet the criteria, we will consider removing it from the list. TPR is engaging with the scheme trustee and NOW: Pensions to address the ongoing concerns about the scheme.
Once NOW: Pensions has addressed its ongoing issues, it can apply to be put back on the master trust assurance list. TPR will monitor its progress in this.”
There is no suggestion that the assets of members are at risk as a result of the scheme coming off the list, or that employers whose workplace pensions are in place with NOW: Pensions are not complying with their automatic enrolment duties. Employers who have used NOW: Pensions to meet their automatic enrolment duties are not required to take any action and continue to comply with their enrolment duties. If members of NOW: Pensions scheme have any questions about their savings they should contact the scheme directly on 01298 890250 or email membersupport@nowpensions.com .
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The Pensions Regulator begins spot checks in Edinburgh 26 July 2017
Edinburgh is the latest city that The Pensions Regulator is focusing on to ensure employers are complying with their automatic enrolment duties.
The Chartered Institute of Payroll Professionals
Policy News Journal
cipp.org.uk
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