Industry news and views from Panacea and our partners.
Auto-Enrolment_
Now Pensions: Governance, governance, governance why all the fuss?
There has been a lot of discussion about pension scheme governance recently.
The Pension Regulator: AE Industry Liaison Manager update - June 2015
If there are any particular topics you would like to hear about, your feedback would be welcome. Please feel free to circulate this email to appropriate colleagues and any third party contacts and introducers.
Auto Enrolement - Bunsen burners, Gaps and the Venn diagram of auto enrolment
Whilst I love learning there are a few pieces of knowledge I acquired at school Ive never found any practical use for
A&E in a box: Misconceptions, Superheroes and an important lesson for SMEs
Theres a general assumption in both the employers and accountants we speak to that if you employ between 2 & 50 employees, and especially if youre closer to the former rather than the later, Auto Enrolment is something you can put to the bottom of your in-box file and worry about in 2016 or 2017.
A&E in a box: Easter, Peppa Pig and why the time to plan for auto enrolment is truly here
The run up to April every year is usually a pretty busy time in more financial planners and advisers offices for two really clear reasons Firstly were pretty busy ensuring our clients have done everything they need to do prior to the end of the tax year and work hard helping our clients understand the new pension freedoms.
A&E in a box : Revolution, Pace and why auto enrolment is getting 14 times faster
Since 2012 theres been thousands of employers who have complied successfully with auto enrolment. However in the first 3 months of 2016 something revolutionary is happening.
The Pension regulator: View our video on director exemptions
Find out if your director clients are exempt from the automatic enrolment duties. Click on the link below.
AE in a Box, Rainy Sundays and how frustration creates ideas
About 18 months ago, on a rainy Sunday night, I was sitting at home feeling uneasy. I was trying to read but found myself constantly distracted by a thought which wouldnt go away. The thought was about a particularly annoying challenge I faced within my business which Id been struggling to get my head around for a couple of weeks. You see, at that stage we were helping a number of relatively large employers with the process of auto enrolment.
Why AE in a Box is the result of a personal pension paradox
Now were in the new tax year theres plenty going on in the wonderful world of pensions. Individuals over 55 have more flexibility on what they can do with their accumulated pension pots than ever before. Its now more attractive for individuals to pass on their pensions if they dont use all the money to their dependents (at least before the age of 75)
AE in a Box and a question of 20 minutes.
How do you explain 2 years of work, and our plans for the next few years in 20 minutes? A strange question. Perhaps. But one Ive been thinking about since leaving the offices of Money Marketing this morning.
The Pension regulator Weve launched our new guide to automatic enrolment for business advisers
Its been created in response to feedback from advisers who told us that they wanted a simplified online process to help small business clients meet their automatic enrolment duties.
The Pension regulator: AE Industry liaison Manager provider update - May 2015
Do you have any events planned on automatic enrolment? As part of our education and enablement approach we attend and speak at events on automatic enrolment.
Scottish Widows: Retirement savings: encouraging trends
The first 18 months of automatic enrolment could hardly have gone better for the Government. Most employers met their obligations on time, and opt-out rates for employees were in single figures, which was far lower than expected. But simply getting people into pension arrangements must be seen as a start, and not as an end in itself. The benchmark for the tenth Scottish Widows Retirement Report is 12% of earnings saved from age 30 to state pension age for those not expecting their main income to come from a defined benefits (DB) scheme. This will not provide a luxurious retirement, but should give an acceptable living standard. For average earners it is almost twice the automatic enrolment minimum, but includes employer contributions and non-pension savings designated for retirement.
A&E in a box: Gaps, Solutions and why auto enrolment enforcement now means fines
Whilst previously the natural approach of the pensions regulator was to support and encourage employers to comply. In the early days of auto enrolment whilst working with many of the bigger businesses weve seen a few examples of the regulator working in partnership with employers to ensure they are compliant and have the systems and processes in place to continue top comply.
Now: Pensions: Wouldnt it be great if IFAs could charge fees to accountants? With AE you can!
For a couple of years now the advice industry has been saying that Accountants and Payroll Bureaux need advisers involved within their auto enrolment proposition. At last they seem to be realising it. Auto enrolment is the best opportunity for advisers to develop accountancy relationships ever!
A&E in a box: Noise, Minefields and the significance of the auto enrolment third way
Every time I put fingers to keyboard, either for this blog, a comment for the press, or an article on another site, Im conscious of avoiding doing one thing Adding to the unnecessary noise. I read so much which does just that. It doesnt add value to an argument, debate or provide a fresh perspective. It doesnt help, support or guide. Its just another layer of noise in a market where everyones shouting to be heard
Now Pensions: Auto enrolment we are entering the most dangerous time of all
So far all (well most) is well. Overall, auto enrolment has been a big success. I think most people would agree with that.
A&E in a box: Aristotle, The Spice Girls and why the whole is greater than the sum of its parts
Theres certain people throughout history who are remembered as true geniuses. People through hard work, deep thought and opportunity seem to have the ability to be prolific throughout their lifetimes across a range of sectors. One of the greatest historic examples of this type of individual is
AE in a Box: Employer support, Third way and the changing auto enrolment game
Employer support, Third way and the changing auto enrolment game. The auto enrolment ride so far has been a relatively smooth one. Massive, large and medium sized employers have taken a lot of the obligations in their stride. However the benefit these employers have had are large teams, relatively deep pockets which allow for them to pay for proper professional auto enrolment consultancy and, whilst some left it a little late, a decent amount of time.
AE Industry liaison - Newsflash - March 2015
1. Consultation published - Helping users of HMRCs Basic PAYE Tool undertake automatic enrolment calculations - open until 19 May 2015.
Road Blocks, Momentum and why AE in a Box isnt middleware
One of the things that drives me, both personally and within my businesses, is a desire to provide clearer ways to solve financial issues. My firm belief is that the world of money is quite often overly and unnecessary complicated and I get a massive buzz from the challenge of taking the cloud of complexity and hopefully turning into rays of simplistic sunshine.
A&E in a box: Employer support, Third way and the changing auto enrolment game
The auto enrolment ride so far has been a relatively smooth one. Massive, large and medium sized employers have taken a lot of the obligations in their stride. However the benefit these employers have had are large teams, relatively deep pockets which allow for them to pay for proper professional auto enrolment consultancy and, whilst some left it a little late, a decent amount of time.
A&E in a box: Bunsen burners, Gaps and the Ven Diagram of auto enrolment
Whilst I love learning there are a few pieces of knowledge I acquired at school Ive never found any practical use for Whilst Im sure that knowing the Pythagoras Theorem, how to use a Bunsen burner and knowing the collective noun for a number of owls (its parliament by the way) is useful for some Ive never found any practical use for any of these pieces of information. However the fact that always seemed to be useful, but Id never had a use for since college was invented by a bloke called John in 1880.
The Pension regulator: Automatic Enrolement: Regulation changes update - effective 1 April 2015
Following consultation, DWP have laid new regulations* which will come into force on 1 April 2015. They aim to reduce the administrative overhead, especially for small and micro employers, for assessment and issuing worker information. The changes are permissive, i.e. they are not mandatory and so employers can continue to follow the old rules indefinitely.
AE in a box: The impending auto enrolment challenge
Whilst the challenges in any business are unique to their particular sector, profession or field theres one thing which will unite many business owners in 2015 . For the first time theyll have to comply with auto enrolment regulation
AE INDUSTRY LIAISON INTERMEDIARIES UPDATE - March 2015
If there are any particular topics you would like to hear about, your feedback would be welcome. Please feel free to circulate this email to appropriate colleagues and any third party contacts and introducers. 1. The essential guide for people who employ their own care and support. 2. What a company should do if they have no workers on their staging date. 3. Cyclical and immediate re-enrolment. 4. Our new advertising campaign begins. 5. Ask the regulator Q&A on LinkedIn 16th March. Register.
AE in a box: Doomed? Trail removal matters, fears for the few as well as the many
Theres a general assumption in both the employers and accountants we speak to that if you employ between 2 & 50 employees, and especially if youre closer to the former rather than the later, Auto Enrolment is something you can put to the bottom of your in-box file and worry about in 2016 or 2017.
Carrot, Sticks and why employers need to take auto enrolment seriously
The next couple of years will see a huge number of employers approach and then pass the date in which they need to start to comply with auto enrolment regulation.
Royal London: Worried about auto enrolment profitability?
Use our calculators to help you build robust, workable solutions.
Auto Enrolment, Consultancy and picking the right route for your business
As we hit the period when smaller employers approach the challenge of complying with auto enrolment it seems that many of these firms are waking up to a certain reality
Now Pensions: Auto enrolment webinars
NOW: Pensions is pleased to announce a series of IFA webinars to support you and your employer clients through the auto enrolment process.
Chris Daems on AE in a Box and The Power of Three
Spotting the needs of niche customers and developing a specific product makes good business sense.
NOW Pensions breaking the mould
Auto enrolment presents a promising commercial opportunity for advisers. However, as the demand from SME and micro employers gathers pace, there is an increasing fear that pension providers will not be able to meet the demand.
Aegon UK is yet to see auto-enrolment impact member saving behaviours
Aegon UK reports an increase of more than 50% in the number of people who stop paying into their workplace schemes after the opt-out window since the start of auto-enrolment.
Royal London: Directors and auto enrolment
2015 marks the start of staging for small, micro and nano employers. Many of your clients will need to decide whether one or more of their directors should be considered as workers for the employer duties.
Royal London: A look back over auto enrolment in 2014
A festive round-up of what happened during the last year in the world of workplace pensions.
NOW: Pensions Top tips for small businesses preparing for auto enrolment
For small companies, auto enrolment is looming large on the horizon. Starting in January, businesses with fewer than 58 employees will reach their staging date and by the third quarter of next year, those with fewer than 30 staff will be captured by the legislation.
The Family Asset Pension Trust - The Premier Auto Enrolment Solution
Brought to you by the Family Asset Protection Company, The Family Asset Pension trust is a fully managed end to end Auto Enrolment compliant solution to your corporate clients Auto Enrolment dilemma.
Royal London: Pension freedoms lead to uncertainty in workplace pension advice
It's almost certain that the pension freedoms announced by George Osborne will create more demand for advice as people wrestle with what to do with their pension pot at retirement.
Family Asset Pension Trust: Automatic enrolment: The first employers have been issued a Fixed Penalty Notice for not meeting their duties
It is expected that as the number of employers subject to the duties goes up there will be more non-compliance. Smaller employers, despite the Regulators message to prepare early, are likely to leave it too late, or not comply at all.