Automatic enrolment and pension contribution reforms
A new government bill indicates that a change to the automatic enrolment minimum age, and increases to workplace pension contributions, could be on the horizon.
A new government bill indicates that a change to the automatic enrolment minimum age, and increases to workplace pension contributions, could be on the horizon.
The success of automatic pension enrolment was recently underlined by new data from the ONS, but if you’re self-employed or only making minimum contributions, you may need to review your retirement planning.
In early December the DWP announced the thresholds that should apply to automatic enrolment pension contributions from 6 April 2019. We say ‘should’ because, strictly speaking, they need final approval from the Secretary of State, although any change is extremely unlikely.
The government has published a review on automatic enrolment in workplace pensions which makes important proposals for employers.
Automatic enrolment has reached a new landmark, but the path from 2017 onwards could be challenging.
It is not only BHS which is keeping the Pensions Regulator busy.
The Pensions Regulator released a bulletin, showing that as the size of companies drawn into auto-enrolment has shrunk, the TPR’s actions and fines grown.
The Autumn Statement revealed more evidence that the government is counting the cost of tax relief on pension contributions.