In the distant past, when a member left a final salary or career average scheme, the pension earned was frozen. This meant the pension was left to wither on the vine rather than enjoy the returns on the money invested. Anyone with an ounce of sense would expect the right to a stream of deferred pay to at…
Month: January 2012
Tough economic conditions mean small employers benefit from delay
Small firms have been given an extra year to prepare for the auto enrolment of their employees into a qualifying pension scheme. The Department for Work and Pensions (DWP) has announced a revised timetable so that small firms with fewer than 50 employees will not begin the process until mid 2015 instead of April 2014…
A bleak old age!
The Workplace Retirement Income Commission recently reported that millions of private sector workers face a ‘bleak old age’ because they fell through the cracks of pension provision. Evidently the number of people saving in to company pension schemes in the private sector has almost halved since 1991! This may come as no great surprise given the shape of the…