Auto Enrolment Six Years On

Auto Enrolment Six Years On

Pension savings have grown after six years of automatic enrolment, but more progress is required to provide most people with adequate funds for retirement.   Automatic enrolment has sharply reversed the downward trend in workplace pension membership, which hit a...
Next stage of automatic enrolment

Next stage of automatic enrolment

Since 2012 employer and employee automatic enrolment contributions have totalled 2% of ‘band earnings’, with the employer having to pay at least 1%. From 6 April this year, the minimum contributions will rise to 5%, with 2% from the employer. The extra outlay could be...
The lifetime allowance increases – at last

The lifetime allowance increases – at last

Investors can save more into pensions from 6 April 2018, when the lifetime allowance (LTA) increases from £1 million to £1.03 million. The LTA is a critical part of pension planning. It is the total value of payouts from pension savings, as a lump sum or income,...