Category: Adequacy
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Easter may make some think of the Roman Empire because of its role in the Easter narrative. But this is a pensions blog! And it’s Easter – so let’s make a connection there. While Pontius Pilate is primarily known for his part in the crucifixion story, he was also a cog in the administrative machine…
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I’m watching the Work and Pensions Committee evidence session on dashboards that took place yesterday. Excellent evidence from Richard Smith, Kim Gubler, Brian Byrnes, and Maurice Titley. I really enjoyed the impassioned statement from the indefatigable Richard Smith on how dashboards will be game changers for future pensioners. Richard’s key message was that if we…
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The pensions world is very interested in the upcoming pensions review on adequacy and retirement outcomes. There is widespread concern about the level of contributions people, employers and Government are paying into private pensions and thought will need to be put into how to increase contribution levels to meet retirement income adequacy measures such as…
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The DWP has announced that the automatic enrolment Earnings Trigger and Qualifying Earnings Band will stay the same in 2025/26 as it was in 2024/25. These affect eligibility and contribution levels and mean that: This means that as earnings increase, more people will be eligible for automatic enrolment, and people will receive and pay more…
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The energy price cap went up again on January 1st, by 1.2%. This brings the average household energy bill energy to £1,738 a year, an increase of £21 a month. This follows on from previous adjustments: Month Average annual bill for those on direct debit * January 2025 £1,738 October 2024 £1,717 July 2024 £1,568…
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I gave evidence to the work and pensions select committee today on pensioner poverty. They are interested in the causes of pensioner poverty and the role that state pensions and benefits play in ameliorating poverty. We talked about so many things during the hour in which I gave evidence alongside Carl Emmerson (IFS), Carole Easton…
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According to the Financial Times, Rachel Reeves has announced that the adequacy element of the pensions review is going to be put on hold. The rationale is that a review of adequacy could result in pension contribution increases that would force employers to spend “billions of pounds” more on pensions. The Government is concerned that…