- Pensions campaigner Ros Altmann joins Conservative Party and becomes pensions minister after 2015 General Election.
- The brand for a guidance guarantee for those exercising pensions freedoms is unveiled as ‘Pension wise’, under the strapline ‘Pension wise – your money, your choice’.
- Centre for Policy Studies fellow Michael Johnson calls for a Workplace Isa as part of a radical move from an exempt, exempt, taxed structure to a taxed, exempt, exempt one. Osborne postpones reform of tax relief in his Autumn Statement, and speculation mounts that he will introduce radical changes in the 2016 Budget.
- Government’s Fit for Work service goes live.
- Auto-enrolment pension providers are required to establish independent governance committees.
- Barclays closes its Corporate and Employer Solutions arm to new business.
- The Pensions Policy Institute calculates that less than half of the working-age population are eligible for auto-enrolment, with 23 per cent of employees ineligible.
- Survey of CA Summit delegates finds 37 per cent plan robo-advice launch.
- DWP launches ‘Workie’, a multicoloured beast it describes as a ‘striking physical embodiment of the workplace pension’.
- Most retirees would be better off if they drew down money from their pension pot rather than annuitised, and those with over £100,000 should do so in nearly all cases, research from Cass Business School at London’s City University finds.
“In Australia, they call them Grey Nomads – retirees taking to the road with their caravans. In the UK, we’ll be calling them Saga Louts – Benidorm will be a fun place to be. Employers are going to start asking why they are funding a gold-plated pension scheme if their employees are using it to buy a Lamborghini.” Barnett Waddingham partner Damian Stancombe
CA Awards: Capita Employee Benefits