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DWP researches automatic annual increases to workplace pensions

The DWP has commissioned a new study to examine if employees enrolled in a workplace pension can be encouraged to save more by agreeing to have contributions automatically increased annually.
It will evaluate a small number of case studies with employers who offer and contribute to pensions in their workplace, the first will involve Legal & General.
Minister for pensions reform Stephen Timms says: While methods of joining pension schemes, such as automatic enrolment, can be successful in encouraging people to save for their future, employees do not always act to increase their contributions once enrolled. The study will research if such inertia can be overcome by pre-agreed increases in contributions.


IFP retreats in row over chartered status

The Institute of Financial Planning has backed down from a legal showdown with the Privy Council over the CII’s launch of chartered status. Last month, the IFP accused the CII of trying to undermine its own certified financial planner accreditation with the launch of a chartered financial planner qualification. The IFP says the Privy Council […]

FSA fines UBS 100,000 for system reporting failures

The FSA has fined UBS 100,000 for failures in its systems for reporting transactions in financial instruments from May 1999 to October 2005.In July UBS Wealth Management made a suspicious transaction report to the FSA. Following a review of the report by the regulator it was established the transaction had been incorrectly reported as a […]

Laundering lapses cost bond firm 170k penalty

The FSA has fined emerging market bond brokerage Inv- estment Services UK 175,0000 for failing to enforce money-laundering controls that allowed 8m to go into UK bank accounts without the bank knowing the identities of the people depositing the cash. The firm has been found guilty of not fulfilling its money-laundering obligations and failing to […]

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White paper — Singapore International Insights

Jelf Employee Benefits assesses key trends within the international private medical insurance provision of organisations with employees in Singapore. Benefit structure, cost management and healthcare facilities are examined and key considerations are highlighted. This edition will be of particular interest to global human resource directors and benefit managers with local and expatriate populations in Singapore.


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