Category: Contributions
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The first WFFI session
Adequacy, Annuities, Automatic enrolment, Behavioural economics, Benefits, Carers, Consolidation, Contributions, Dashboards, Decumulation, Defined Benefit, Defined Contribution, Disability, Drawdown, Early access, Engagement, Ethnicity, Financial inclusion, Guidance/advice, Housing, Inflation, Investment, Pension freedoms, Pensions gap, Poverty, Retirement, WomenI ran the first Women’s Financial Future Initiative session today, over the lunch hour, with fifteen women at Bravura Solutions. The Initiative exists because the pension system already contains protections for the things that shape a lot of women’s working lives, such as time out for caring, part time hours and relationship change. I don’t…
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The Turner Commission’s design for auto-enrolment drew on US research showing that inertia could be used to keep people enrolled in pension schemes, and they were right; AE opt-out rates stayed below 10%. The same research showed that defaults can anchor savers at minimum contribution rates. The Commission proposed a minimum of 8% of band…
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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…