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Tories say pensions bill not good enough

Shadow pensions minister Nigel Waterson has slated the Government&#39s Pensions Bill, released today, saying it contains no incentive to save for retirement.

He claimed the Government&#39s approach is like “tackling a fire by promising fire insurance for the future instead of calling the fire brigade”.

Specifically, the Tories say the Bill will do nothing to reverse the spread of means testing of state benefits for pensioners and only contains minor reforms where “almost everyone” who responded to the Pensions Green Paper called for fundamental reform.

Speaking straight after the release of the bill Waterson said: “The Bill includes nothing to persuade a single employer to keep open an existing pension scheme, let alone start a new one for their employees.”

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Guide: day-to-day tasks ​— can your system manage?

This guide from Johnson Fleming will take you through the required communication and also give ideas for additional actions that will ensure your auto-enrolment project is a success. As well as highlighting what is required from a system to ensure it is up to the tasks, an overview of the following is also provided: data validation; data categorisation; employee communication; opt-in process; opt-out process; produce contribution schedule; contribution reconciliation process; upload of member data to pension provider; upload contribution to pension provider; manage salary sacrifice process; enrolment process; re-enrolment process; and management of increased employee queries.

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