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Author: Great Britain: Parliament: House of Commons: Work and Pensions Committee
Publisher: The Stationery Office
ISBN: 9780215056979
Category : Business & Economics
Languages : en
Pages : 64
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Book Description
The introduction of auto-enrolment makes rigorous pension scheme governance essential. This Report calls on the Government to reassess the case for establishing one body with sole responsibility for regulating workplace pensions. There are concerns over current gaps in regulation and the potential for further gaps to arise as a result of now having three regulators, the Pensions Regulator; and the new Financial Conduct Authority and Prudential Regulation Authority, set up to replace the FSA. The Report argues that a single regulator is necessary to ensure that all members of workplace pension schemes are adequately and consistently protected. It also highlights that deferred-member charges and member-borne consultancy charges have the potential to cause serious consumer detriment. It recommends that both are banned by the Government, if significant progress is not made in the very near future by the industry towards ending them. There is particular concern about member-borne consultancy charges and those charges applied to deferred members - people who stop contributing to their pension scheme. The trend towards lower pension scheme charges is welcome. However, a good average is not sufficient and there is potential for consumer detriment in schemes that persist in retaining high charges. The Government should also regularly review its policy on capping charges for auto-enrolment schemes. Consumers are also continuing to lose out when they buy annuities because pension providers are not doing enough to ensure people are aware that they can shop around for the best annuity rate rather than being obliged to buy an annuity from their pension provider.
Author: Great Britain: Parliament: House of Commons: Work and Pensions Committee
Publisher: The Stationery Office
ISBN: 9780215056979
Category : Business & Economics
Languages : en
Pages : 64
Get Book Here
Book Description
The introduction of auto-enrolment makes rigorous pension scheme governance essential. This Report calls on the Government to reassess the case for establishing one body with sole responsibility for regulating workplace pensions. There are concerns over current gaps in regulation and the potential for further gaps to arise as a result of now having three regulators, the Pensions Regulator; and the new Financial Conduct Authority and Prudential Regulation Authority, set up to replace the FSA. The Report argues that a single regulator is necessary to ensure that all members of workplace pension schemes are adequately and consistently protected. It also highlights that deferred-member charges and member-borne consultancy charges have the potential to cause serious consumer detriment. It recommends that both are banned by the Government, if significant progress is not made in the very near future by the industry towards ending them. There is particular concern about member-borne consultancy charges and those charges applied to deferred members - people who stop contributing to their pension scheme. The trend towards lower pension scheme charges is welcome. However, a good average is not sufficient and there is potential for consumer detriment in schemes that persist in retaining high charges. The Government should also regularly review its policy on capping charges for auto-enrolment schemes. Consumers are also continuing to lose out when they buy annuities because pension providers are not doing enough to ensure people are aware that they can shop around for the best annuity rate rather than being obliged to buy an annuity from their pension provider.
Author: Great Britain: Parliament: House of Commons: Work and Pensions Committee
Publisher: The Stationery Office
ISBN: 9780215042972
Category : Business & Economics
Languages : en
Pages : 238
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Book Description
The Government established NEST as a low-cost pension scheme to help deliver the auto-enrolment programme and to address a market failure in the pensions industry which meant that many employers and employees were unable to access low-cost, good quality pension provision. However, the Committee believes that certain restrictions placed on NEST will create complexity for employers and will disadvantage some employees. The Committee's report recommends that, if state aid rules allow, the Government should remove the following restrictions: the cap on the annual contributions an individual can make to a NEST scheme; and the ban on individuals transferring existing pension pots into NEST. The Committee further urges the Government to proceed with its plans for State Pension reform, introducing a flat-rate State Pension and reducing the level of means-testing without delay. The report also highlights the difficulties and complexity employers and employees currently face in comparing the fees and charges applied by pension providers and recommends that, from 2013 onwards, if some auto-enrolment schemes still have hidden charges, or charges that represent poor value for money, the Government should use its powers to intervene. Auto-enrolment will impose new costs and may be particularly challenging for small employers however the Committee considers that the Government has taken appropriate steps to minimise the impact on businesses through its gradual and flexible approach ("staging and phasing") to implementation. Exempting small employers would create significant complexity, as well as excluding many employees from the benefits of workplace pension saving
Author: Great Britain: Parliament: House of Commons: Work and Pensions Committee
Publisher: The Stationery Office
ISBN: 9780215054128
Category : Political Science
Languages : en
Pages : 256
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Book Description
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 330
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Book Description
Author: Catherine Needham
Publisher: Policy Press
ISBN: 1447344006
Category : Political Science
Languages : en
Pages : 292
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Book Description
Bringing together the voices of leading experts in the field, this edition offers an up-to-date and diverse review of the best in social policy scholarship over the past year. The book considers a range of current issues and critical debates in UK and international social policy field. It contains vital research, including discussions on the changing landscape of occupational as well as corporate welfare in the UK, the continuing impact of austerity on various social policy areas and the challenges currently faced by the NHS. Published in association with the SPA, this comprehensive analysis of the current state of social policy will be of interest to students and academics in social policy, social welfare and related disciplines.
Author: Kimberley Willis
Publisher: John Wiley & Sons
ISBN: 1119675936
Category : Technology & Engineering
Languages : en
Pages : 436
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Book Description
Your hands-on guide to modern chicken-raising methods Thinking about raising chickens? You've come to the right place! This new edition of Raising Chickens For Dummies provides the most up-to-date, thorough information on the many aspects of keeping chickens in your backyard. Inside, you'll find hands-on, easy-to-follow instructions on choosing and purchasing chickens, constructing housing for your birds, feeding your chickens for optimal health, combating laying issues, controlling pests and predators, optimizing egg production, and much more. Raising chickens on a small scale is a popular—and growing—pastime. If you're interested in keeping chickens as pets or as a source for eggs, Raising Chickens For Dummies gives you plain-English explanations of everything you need to know to about caring for chickens. Inside, you'll learn about basic chicken biology, breeds, and behavior, which chicken breed is best for you, how many you need, ways to spot healthy chickens, how to build a chicken coop, best practices for mating your chickens, how to incubate eggs, how to hatch and nurture chicks, manage laying hens, collect and store eggs, and butcher meat birds. Offers practical advice on choosing and purchasing chickens Helps you construct the right housing for your chickens Provides tips on feeding and caring for your chickens Includes top tips for raising healthy chickens Whether you're a first-time poulterer or you've been raising chickens for years, this comprehensive guide provides practical how-to advice for keeping chickens in virtually any backyard. Raising Chickens For Dummies (9781119675921) was previously published as Raising Chickens For Dummies (9781118982785). While this version features a new Dummies cover and design, the content is the same as the prior release and should not be considered a new or updated product.
Author: United States. Department of State
Publisher:
ISBN:
Category : Sealing
Languages : en
Pages : 466
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Book Description
Author: Karen Patry
Publisher: Storey Publishing
ISBN: 161212142X
Category : Technology & Engineering
Languages : en
Pages : 329
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Book Description
Discusses how to care for rabbits at every stage of life and addresses concerns about housing and breeding.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 198
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Book Description
Author: Great Britain: Department for Work and Pensions
Publisher: The Stationery Office
ISBN: 9780101795425
Category : Business & Economics
Languages : en
Pages : 214
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Book Description
Current policy is that new duties will be staged in between 2012 and 2016, requiring all employers to designate a pension scheme into which all of their employees, aged between 22 and state pension age, should be automatically enrolled, so long as they are earning above an annual earnings threshold (the Pensions Act 2008 sets this at £5,035, equivalent to £5,732 in today's terms). Upon automatic enrolment, a minimum of eight per cent of earnings within a band would be contributed to the pension, with at least three per cent coming from the employer. This policy is designed to maximise private pension saving by individuals without imposing compulsion. The right to opt out will remain. This review looks at the scope of automatic enrolment and whether a new national pension scheme (National Employment Savings Trust or NEST) needs to be put in place for it to work. One of the most significant recommendations that it makes is that people should only be automatically enrolled once they reach the income tax threshold (which will increase to £7.475 in 2011) but that contributions should be on earnings in excess of the National Insurance earnings threshold (£5,715 in today's prices). There should be no changes to age thresholds and automatic enrolment duties should apply to all employers, regardless of size, as now. Employers should be given three months before auto-enrolment to ease the burden on companies. If staff choose to enrol before the three month period then companies will have to make contributions
