Category Archives: DWP

Of nuclear deterrents, sledgehammers and nuts – (DWP Select on DB)


The 90 page report on the state of our defined benefit pension schemes is published this morning. From first to last it is the work of Frank Field, it begins with BHS and ends with BHS, the confrontation with Philip … Continue reading

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A “tax on a tax” – VAT on auto-enrolment bills


The Government is encouraging us to think of auto-enrolment for micros as an extension of the success story it has been for larger employers. But things are very different for smaller employers – especially when it comes to tax. Many … Continue reading

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(Workplace) Isa ain’t gonna wash for a week!


  A radical idea Michael Johnson has published his proposal for a workplace ISA, Michael has explained this to me before and has explained his proposals publicly to the DWP Select Committee. The proposal is not just to include an ISA … Continue reading

Posted in Australia, auto-enrolment, DWP, Payroll, pensions | Tagged , , , , , , , | 3 Comments

NEST is not a financial soup-kitchen.


For some time , I and others advising on workplace pensions have been calling for NEST to make a clear statement on charging employers for NEST support. Now we have it . In case you can’t press the link , here … Continue reading

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Simplifying AE – why the workforce assessment IS worth it


The Government is calling for ideas to simplify auto-enrolment.  I had an interesting discussion with a senior payroll policy lobbyist yesterday. She argues that the “workforce assessment” is too problematic to become part of the normal payroll function of Britain’s … Continue reading

Posted in accountants, advice gap, auto-enrolment, DWP, pensions, Pensions Regulator, risk, Ros Altmann, welfare | Tagged , , , , , , , , , , , , , | 1 Comment

Two thirds of SMEs are pension virgins.


New research is out on the purchasing intentions of the remaining 1.2m employers who aren’t “in” to auto-enrolment. Of the  SMEs surveyed who are yet to stage, two thirds (66%) don’t have any existing pension arrangements for their staff while … Continue reading

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Clarity needed on NEST’s finances


  The Pension Regulator has announced it intends to introduce a Directory of workplace pensions. The criteria for inclusion will be that the workplace pension must meet the Quality Standards being introduced from 2015 and that the workplace will be universally … Continue reading

Posted in DWP, NEST | Tagged , , , , , , , , , , , , , , , , , | 2 Comments

Pensions too boring for DWP select committee member


  Nigel Mills MP, who sits on the DWP’s Pension Select committee is so committed to his task that he chose to turn up to a DWP committee meeting as a part of the recent pensions debate. He used the time to  play … Continue reading

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“I will look unto the hills” – for help with my DC pot!


    As the days click by and Outlook starts filling up for April  2015, I ask myself what help is on its way for those without the means for a drawdown SIPP or the inclination to purchase an annuity. … Continue reading

Posted in CDC, drawdown, DWP, pensions | Tagged , , , , , , , | 3 Comments

Labour’s drawdown cap – right idea- wrong execution


Labour is calling for a cap on drawdown charges from April 2015. It is easy to see why. Currently there is a false market for drawdown with many customers paying as much as 4% pa for the management of their … Continue reading

Posted in drawdown, DWP, pensions, Retirement | Tagged , , , , , , , , , , , , , , | 3 Comments