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Written by Occupational Pensions
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Sunday, 01 January 2012 00:00 |
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AFTER MUCH SPECULATION, Minister for Pensions Steve Webb has announced1 that the timetable for phasing in automatic enrolment is being eased for businesses with fewer than 50 employees. Under the previous government’s original plans for the introduction of auto-enrolment, these firms were due to begin the process from April 2014. Under the revised timetable, the auto-enrolment duty will not start for this group of employers until May 2015.
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Read more... [Auto-enrolment delay provokes mixed response]
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Written by Occupational Pensions
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Sunday, 01 January 2012 00:00 |
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SPEAKING AT A CONFERENCE organised by the National Association of Pension Funds (NAPF), Bill Galvin, chief executive of the Pensions Regulator, announced that the organisation is inviting the pensions industry to help it develop six principles for the good design and management of defined-contribution (DC) schemes. The regulator intends to make the principles the basis of its regulatory approach for the future.
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Read more... [Regulator maps out DC principles]
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Written by Occupational Pensions
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Sunday, 01 January 2012 00:00 |
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THE National Association of Pension Funds (NAPF) has instigated an initiative to develop a pensions industry code of practice on the transparency of fees and charges levied by definedcontribution (DC) funds and to make it easier for people to be able to compare pensions. The process started with a summit of key industry bodies, and consumer, business and union representatives, supported by Steve Webb, the pensions minister, to discuss current problems and to start a dialogue on possible improvements.
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Read more... [NAPF seeks clarity on DC fund charges]
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Written by Occupational Pensions
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Sunday, 01 January 2012 00:00 |
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THE DEPARTMENT OF HEALTH (DoH) has announced what it suggests are its final proposals for increased contribution rates for the NHS Pension Scheme for 2012/13. The department says it has prepared draft Regulations reflecting its revised proposals.
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Read more... [Government sets out its decision on NHS contribution rates]
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Written by Occupational Pensions
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Sunday, 01 January 2012 00:00 |
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PUBLIC SECTOR UNIONS have failed in their legal challenge1 to the government’s decision to change the basis of awarding increases to public service pensions and certain state benefits from the retail prices index (RPI) to the consumer prices index (CPI) from April 2011. The government made the announcement in the June 2010 Budget and the unions declared their intention to fight it from the start.
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Read more... [Defeat for unions in CPI challenge at High Court]
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