The Chartered Institute of Payroll Professionals (CIPP) has unveiled its second annual report on pensions automatic enrolment, investigating the position of the industry six months after the largest of organisations commenced their full automatic enrolment duties on 1 October 2012. The CIPP second research paper to understand business readiness for automatic enrolment includes responses and [...]
Having just got RTI out of the way all employers will now have to start thinking about work place pensions (auto enrolment) and how it will affect them. The first phase of auto-enrolment was launched in 2012 and in October firms with at least 120,000 employees were brought into the scheme and those with more [...]
Introduced to the UK in April 2001 Stakeholder Pension Schemes were a direct result of the Welfare Reform and Pensions Act 1999. With the sole purpose of encouraging low, and moderate earning employees to make provision for their retirement, they offered a long awaited, low cost, low contribution, flexible pension planning solution. At that time, [...]
The Royal Bank of Scotland was the first company in the UK to adopt the soon to be obligatory automatic pensions enrolment for their employees. The Royal Bank, which has just over 40,000 members in its defined benefits scheme (which is now closed) and more than 25,000 members in its defined contribution scheme, prior to [...]
