Blog written by Christopher Brooks, Senior Policy Manager, Age UK
Since 2012, employees have been automatically enrolled into their employer’s pension scheme, which has meant that nearly 10 million people are now saving for their later life than before. The individual, employer and government all make a contribution, and this co-funding arrangement will in most cases benefit the employee, who can still opt out of the scheme if they wish.
Continue reading “Low earners losing out in pensions”
From medieval conmen persuading people to hand over hard cash for worthless ‘holy relics’, to Charles Ponzi promising amazing returns on the back of earlier victims’ money, fraudsters have always been with us and probably always will be. While this is all too true, we can make life a lot tougher for fraudsters – but we need to move rather faster than we have done to date. Continue reading “Pension scams: not quite there yet”
Today Age UK launches its General Election campaign – Dignity in Older Age (www.ageuk.org.uk/generalelection) – which aims to tackle some of the key issues that millions of older people continue to face. Things like difficulties accessing the care and support they so desperately need, living in poverty and struggling to make ends meet, and facing a later life of loneliness.
Throughout the campaign we’ll be covering some of the issues in depth, beginning with Caroline Abrahams on why having a decent income in later life is so important.
What’s the State Pension worth on average? Not surprisingly, most non-retired people don’t know, and the result is that when the ‘triple lock’ is discussed some rather important contextual information like this is usually absent.
Continue reading “The ‘triple lock’ and intergenerational fairness”
After over a year of looking at a wide range of evidence, and meeting many individuals and organisations, John Cridland’s Independent Review of the State Pension age has published its final report. John Cridland was tasked by the Government to make recommendations around a ‘fair and sustainable’ State Pension age (SPA) from 2028 onwards.
Continue reading “Review of State Pension Age Report”
This week we have a guest blog from The Pensions Regulator which highlights that all employers, including the smallest employers such as those that employ personal care assistants, should check if they need to provide a workplace pension.
As the Pensions Regulator our job is to ensure that pension schemes are adequately funded and run in the best interests of retirement savers – and that employers meet their obligations by enrolling eligible staff into a pension scheme and making contributions. Continue reading “Guest blog – Employing a personal care assistant”
Hundreds of women are planning to travel to Westminster today to complain to the government and their MPs about unfair changes to their state pensions. Major changes made through successive Pensions Acts in past years mean that women born in the 1950s have seen several changes to the date at which they will receive their pensions. These changes mean that the date a woman can start to claim her pension may be quite different from that of a woman who is just a little bit older or younger. These women could legitimately think government policy on pensions is unfair and the way the changes have been communicated to them has been a shambles. Continue reading “WASPI women march on Parliament”
Last month Age UK held a small discussion event with Pensions Minister Ros Altmann, hosted by the think tank Reform. The purpose of the meeting was to have a frank conversation with representatives from the pensions industry, consumer groups and trade unions about the need for more people to save more for their retirements. Continue reading “Building a savings culture”