The study also revealed the only country less generous than the UK was New Zealand, where employers would provide just 27% of total minimum contributions. Nonetheless, the same study found the figure rose to 50% for employees in New Zealand's bottom tier - the lowest employer contributions offered in its automatic enrolment scheme, KiwiSaver, are 3%. The research was commissioned after a 2016 survey by the master trust showed just under a quarter (24%) of AE enrolled savers said they either ‘definitely will' or ‘might' opt out, when minimum contributions hit 8% of qualifying earnings in 2019. However, it also found just under three quarters (74%) of those who said they would opt out would either ‘definitely' or ‘probably' continue to save into their workplace pension if contributions were rebalanced and employers put in a minimum of 5%, with a 3% staff contribution.
The full report ‘Who pays the piper? An international comparison of employer and employee contributions to DC pensions’ can be accessed through the PPI’s website .
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Bulk transfers of defined contribution pensions without member consent 27 October 2017
A consultation has been published which seeks views on draft regulations intended to simplify the bulk transfer of defined contribution pensions without member consent.
The consultation seeks views on draft regulations which would: replace the requirement to obtain an actuarial certificate for bulk transfers of defined contribution (DC) pensions without member consent (DC to DC) with an alternative test and new member protections remove the scheme relationship condition for these transfers maintain charge cap protections for those transferred without consent
The consultation follows an earlier call for evidence on bulk transfers of defined contribution pensions without member consent (December 2016).
The government welcome views from any interested parties, particularly: pension industry bodies and professionals trustees or scheme managers pension scheme members and beneficiaries employers and representative organisations
The consultation closes at 5pm on 30 November 2017
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Disclosure of costs, charges and investments in DC occupational pensions 31 October 2017
A consultation has been published which seeks views on publishing cost and charge information and providing members of defined contribution occupational pension schemes with investment information on request.
The purpose of this consultation is to seek views on policy proposals and draft regulations for trustees and managers of certain occupational schemes to publish information about cost and charges and tell members where they can find it.
It also asks for views on policy proposals and draft regulations for trustees and managers of the same schemes to provide information, if a member asks, about the funds in which their money is invested.
Geographical extent - This consultation applies to England, Wales and Scotland.
Engaged pension savers need to be able to find information about costs and charges, to satisfy themselves that they receive good value for money from their pension, and it will meet their needs for future retirement. The Government
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