capaDATA
  • PERFORMANCE
    • Younger saver, 30 years to retirement – 5-year annualised returns
      • Line chart
      • Bar chart
    • Younger saver, 30 years to retirement – 3-year annualised returns
      • Line chart
      • Bar chart
    • Younger saver, 30 years to retirement – 1-year annualised returns
      • Line chart
      • Bar chart
    • Older saver, 5 years to retirement – 5-year annualised returns
      • Line chart
      • Bar chart
    • Older saver, 5 years to retirement – 3-year annualised returns
      • Line chart
      • Bar chart
    • Older saver, 5 years to retirement – 1-year annualised returns
      • Line chart
      • Bar chart
  • RISK/RETURN
    • Risk/Return – Younger saver, 30 years from retirement, 5-year annualised
    • Risk/Return – Younger saver, 30 years from retirement, 3-year annualised
    • Risk/Return – Younger saver, 30 years from retirement, 1-year annualised
    • Risk/Return – Older saver, 5 years from retirement, 5-year annualised
    • Risk/Return – Older saver, 5 years from retirement, 3-year annualised
    • Risk/Return – Older saver, 5 years from retirement, 1-year annualised
  • PROVIDERS
    • Aegon Master Trust
    • Aon Master Trust
    • Atlas Master Trust
    • Aviva Master Trust
    • The Bluesky Pension Scheme
    • Ensign Retirement Plan
    • Fidelity Master Trust
    • Legal & General Investment Management – WorkSave Pension Mastertrust
    • LifeSight (Willis Towers Watson)
    • Mercer Master Trust
    • National Employment Savings Trust (NEST)
    • Now: Pensions
    • The People’s Pension
    • Salvus Master Trust
    • Scottish Widows Master Trust
    • Smart Pension
    • Standard Life DC Master Trust
    • SuperTrust UK Master Trust
    • TPT Retirement Solutions
    • Welplan Pensions
  • Research
    • ADVISERS
      • Pension provider selection factors
      • Switching
      • Diversification
      • Illiquids
      • ESG
      • Green
      • Digital
      • Consolidation
    • PROVIDERS
      • Master Trusts by number of members
      • Master Trust defaults by assets and number of employers
      • Member charges
      • Employer charges
      • Master trust investment advisers
      • Equity exposure
      • Derisking
      • Asset managers used
  • NEWS
  • MORE
    • About
    • Advertise
    • Contact us
    • Privacy policy
    • Content syndication
    • Terms & Conditions
CAPA
No Result
View All Result

Govt looks to extend AE to self-employed

17 December 2018
Govt looks to extend AE to self-employed
Share on TwitterShare on FacebookShare on LinkedIn

The Department of Work and Pensions will consult on ways to boost pension savings among the self-employed in the coming months.

These proposals were contained in the government’s ‘Good Work’ plan, published on Dec 17th, which looks at how workers’ rights can be protected within a more flexible labour market.

Central to this issue has been the growth of more flexible working patterns in recent years, which have seen more people working on zero hours or shorter-term contracts. 

Many of these workers do not qualify for standard benefits, such as an auto-enrolment pensions.

Quilter head of retirement policy, Jon Greer, says he was pleased to see the DWP will soon publish a paper exploring how to increase the pension participation of the self-employed. 

He says: “This step is not only welcomed but badly needed as the self-employed currently slip through the cracks of auto-enrolment and there is still no clear strategy to make sure this group of people put away enough to fund their retirement.”

The Taylor Review, commissioned by the Government and published in 2017, suggested that the self-employed should be automatically enrolled into a pension, paying 4  per cent of income into a product, unless they choose to opt out. 

Greer adds: “While any solution tabled is a good stride forward, we need to think carefully about the nuances of this approach.

“For example, one of the biggest problems that the self-employed have to contend with is a lack of certainty and security of their income month to month. Therefore, particularly for those with lower and moderate incomes, the idea of committing money into a pension pot that can’t be accessed for years to come could seem very unpalatable and therefore avoided.”

One alternative, he suggests, if for the government to recommend a pension ‘sidecar’ strategy which enables savers to have a pool of money accessible at any time, alongside their retirement savings. NEST is currently trialling such a scheme. 

Greer adds: “Whatever solutions the government puts forward in this winter paper they need to avoid a ‘one size fits all’ approach to pension saving for the self-employed as they are unique group of workers with vastly differing needs.”

The post Govt looks to extend AE to self-employed appeared first on Corporate Adviser.

TweetShareShare
Previous Post

Microsoft aims to shake up workplace pensions market

Next Post

FCA unveils new regulatory regime for CMCs

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

Category

  • By Provider
  • News
  • Not for search
  • Provider page archive
  • Uncategorized
  • video
CAPA data

© 2019 Definite Article Media Limited. Design by Bedazzled Media Limited.

  • About
  • Advertise
  • Contact us
  • Privacy policy
  • Syndication

Follow us

No Result
View All Result
  • About
  • Advertise
  • Contact us
  • Privacy policy
  • Syndication

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish.AcceptReject Read More
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT