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Are auto-enrolment pension contributions set to go up?

Earlier this year, Jelf Employee Benefits mentioned that the then minister for pensions was openly discussing the need for an increase in the minimum level of auto-enrolment pension contributions.

This topic did not feature in the election debate on pensions, yet now that the dust has settled on a new majority administration Conservative government, and indeed a new pensions minister in the form of Dr Ros Altmann, we suspect that this subject will soon rise towards the top of the agenda again.

With this in mind, we asked more than 200 Jelf Employment Seminar delegates (mostly senior HR and finance professionals) how they would view a further increase to the auto-enrolment contribution rates. It is fair to say that the results of the survey (which can be seen via this link) proved something of a surprise, with a large level of employer support for any increase.

These findings have been widely reported in the employee benefits and HR media over the last few weeks, but for those looking for some additional thoughts on this topic we would refer you to Steve Herbert’s article on the Mindful Money website.

So, on this evidence at least, it appears that there will be limited opposition to such a move from employers. Time will tell if and when the new government look to progress this issue further.


Ex-Brewin Dolphin trio launch wealth manager

A new investment boutique has been launched by three ex-Brewin Dolphin directors and the former head of strategy and proposition at Barclays Wealth. Brighton Capital Management was set up by David Pegler, Ewen Emmerson, and Francis Jarman, who were previously at Brewin Dolphin, and Tim O’Connor from Barclays Wealth. The new firm offers bespoke investment management […]


Building societies coming out on top in rate war

Building societies are outstripping banks when it comes to offering the cheapest mortgage rates, according to new research. The average five-year fixed rate offered by banks is 3.51 per cent, while the average rate offered by building societies is 3.21 per cent – a difference of 30 basis points – says When it comes […]

Chris Davies: Are insistent clients a dilemma or an opportunity?

My travels over the last month have taken me all over the country and there seems to be only one topic raising its head on a consistent basis: insistent clients determined to transfer from defined benefit to defined contribution schemes. We are only two months into the new pension freedom regime yet there has already […]


Barclays includes bonuses in mortgage affordability calcs

Barclays now takes into account bonuses in its affordability calculations as long as borrowers meet its income requirements. Sole applicants must have a gross income of at least £75,000, excluding the bonus. With joint applications, one applicant must have at least a gross annual income of £75,000 or they must have a joint income of […]

Healthcare regulation amalgamation predicted for Gulf states

While Dubai is leading the way in terms of legislating for expat healthcare in the Gulf, Qatar, Abu Dhabi and others are watching and learning – that’s according to Jelf International’s director of international services, Doug Rice. He believes the pace of change in the Gulf states will continue and that some level of unified healthcare system will be introduced across the region.


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