AE

Pension savers who work multiple part-time jobs are likely to reach retirement with pension wealth equivalent to just 6% of the average man’s, Now Pensions finds.

The pensions industry must personalise interventions and auto-enrolment (AE) conversations to prevent members from squandering their pots at retirement age, according to industry experts.

The least financially secure pension savers may be increasing their personal debt levels or foregoing household essentials after paying pension contributions, The Investing and Saving Alliance (TISA) says.

Nest Insight and the Department for Work and Pensions (DWP) are set to conduct research to examine the financial impact of Covid-19 on self-employed people.

Investment and advice giant Quilter has called on the government to consider decoupling employee and employer contribution thresholds for auto-enrolment (AE) due to the pressures of Covid-19.

Michael Ambery argues that AE faces a potential key fork in its journey, with the government missing a prime opportunity with the Kick Start Scheme, and employers need to step up instead.

It’s not all gloom and doom say Buzz respondents…

The number of eligible employees saving into a workplace pension rose by one percentage point to 88% between 2018 and 2019, Department for Work and Pensions (DWP) statistics show.

The Pensions Regulator (TPR) used its auto-enrolment (AE) enforcement powers more than 35,000 times in the first quarter of this year, with over 11,000 compliance notices dished out.

Just a minority of Nest members opted out of their pensions in the immediate aftermath of the second phased auto-enrolment (AE) contribution increase, the master trust reveals.