View more on these topics

Firms get three-month waiting period for auto-enrolment

Employers will be allowed to operate a 90-day waiting period before they need to auto-enrol staff into a private pension scheme after 2012.

As tipped by Money Marketing last month, this will be allowed in exchange for making higher contributions.

A defined-contribution pension scheme will need to have a total contribution of at least 11 per cent of a band of earnings, with the employer paying at least 6 per cent to take adv- antage of the three-month waiting period.

All other employers will need to start the auto-enrolment process the day an employee starts working for the company.

Employers using the personal accounts scheme will not be able to postpone auto enrolment.

Standard Life senior pensions policy manager Andrew Tully says: “This is good news for generous employers. The ability to postpone auto-enrolment for 90 days gives employers an incentive to make sure their pension contributions are at least 6 per cent of band earnings.”


Mortgage lending halves in Q4 2008

Mortgage lending almost halved to £45bn in the fourth quarter of 2008 from £86.6bn in 2007. Repossessions surged by 68 per cent to 46,750 last year from 27,900 in 2007.

LibDems fear DB schemes could sink PPF

The Liberal Democrats have warned that the Pension Protection Fund will have serious funding issues if the recession worsens after it emerged that 91 per cent of all defined-benefit pension schemes are in deficit.

Derek Stuart: where to find value in the UK?

Derek discusses a number of Œself-help stories as examples of where he is finding good opportunities in the UK With the FTSE trading at historically high levels, many investors have questioned whether UK equities continue to offer value. But, as Derek points out, the headline figures mask many opportunities at a sector level. He has […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment