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Govt names the pensions experts leading auto-enrol review

Jenkins-Jamie-Standard-Life2--2016

Standard Life pensions strategy head Jamie Jenkins has been appointed one of three chairs of the advisory group for the Government’s auto-enrolment review.

The Department for Work and Pensions today published the terms of reference for the group and its members.

Jenkins is the chair responsible for reviewing the coverage of auto-enrolment, The People’s Pension trustee director Ruston Smith is chair with a focus on strengthening the engagement of people with workplace pensions, and Pensions Policy Institute director Chris Curry will focus on the evidence base for future contributions.

The group will give its advice to the DWP, which will then inform a report expected to be laid before parliament this year.

As well as the three areas the chairs will focus on, the group will consider the charge cap, how to simplify auto-enrolment, and policy changes including the new state pension, the Lifetime Isa and pension freedoms.

Other group members include Institute of Fiscal Studies deputy director Carl Emmerson, Age UK public policy head Jane Vass, Confederation of British Industry people and skills director Neil Carberry, KPMG tax and pensions practice partner Linda Ellett, Nest members’ panel chair Nigel Stanley, Now: Pensions trustee director Jocelyn Blackwell, and EEF pensions policy Judith Hogarth.

Jenkins says it is a “privilege” to lead part of the review.

He says: “As it approaches its fifth anniversary, it is a great time to review the coverage it provides. It is crucial that employers continue to play a pivotal role in its success, but that the review also looks at the savings needs of those individuals currently not benefitting.”

Pensions minister Richard Harrington says: “Auto-enrolment has been a huge success but there is still significantly more work to do if we are to set the next generation on a path to a financially secure retirement.”

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Comments

There are 5 comments at the moment, we would love to hear your opinion too.

  1. So all independent then with no axe to grind – NOT.

    We now learn that we have the highest tax burden since the mid 1980’s and with the hole that UK finances are in it is most likely that this is set to rise. Our Purchasing Power Parity is going in reverse; so the upshot is we have more tax and our money goes less far and these geniuses want to reduce take home pay even further. I guess their efforts in extending AE will be about as welcome as a dose of pox by the man in the street.

  2. I think it would have been useful to have some proper practitioners and smaller company representation, say PFS/CISI & Federation of small businesses.

    This group looks a bit too much philosophical, provider and close to Government to be properly objective

  3. Plenty of representation for the “big boys” who either benefit from this or for whom it is only a minor additional administrative burden. No representation from small business for whom this is an absurdly complex and onerous administrative farce that will deliver no benefit for their employees. I speak from experience being currently in the throes of auto-enrolment in a company where half our employees have alternative arrangements – but still have to be auto-enrolled. What a farce.

  4. I’ve some bad news to deliver Harry (…and Donald Trump if he is listening)! Unless we start getting more productive in the UK, the money and jobs will keep finding the homes elsewhere and the national debt, budget deficit and living standards will keep getting worse!

    The ‘average man on the street’ probably could choose not to have the latest smartphone or a new car every three years, but many prefer not to and borrow more.

    Being brought up in Yorkshire, I was told “when times are tough, you pull in your horns and work harder”! So I have a 5 year old smart phone that still does what I need it to do, as does my 8 year old car.

    I have no issue with compelling people to pay for their own pension, because I don’t want to do for those who couldn’t be bothered themselves. Harsh realities.

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