Richard Harrington

Automatic enrolment (AE) needs better marketing to ensure that opt-out rates do not increase in the years ahead, the pensions minister has said.

The Department for Work and Pensions (DWP) will consider giving The Pensions Regulator (TPR) additional powers should they be needed, pensions minister Richard Harrington says.

Auto-enrolled employees will be putting aside £8bn of savings for retirement by the 2019/20 financial year, according to the Department for Work and Pensions (DWP).

Most respondents in this week's Pensions Buzz think allowing people to use pensions to buy homes is a bad idea.

This week's most read stories include TPR protecting members of a DB scheme accidentally converted to DC, and the FCA fining Aviva £8.2m for failing to protect client assets.

Savers should be able to use their nest eggs to buy a home, according to pensions minister Richard Harrington.

The government has confirmed it will introduce the necessary legislation to increase the Pension Protection Fund (PPF) compensation limit for long serving employees.

The pensions minister has confirmed the government hopes "to make an announcement shortly" on implementing changes to the Pension Protection Fund (PPF) compensation cap, after several delays.

The new pensions minister Richard Harrington MP has committed to auto-enrolment (AE) and master trust regulation as he set out his priorities for the role.

Any surplus funds the Pension Protection Fund (PPF) accumulates should not be returned to the levy payers who provided them, according to almost 60% of respondents.