Steve Webb, the Pensions Minister, feels that there should be a guarantee of some kind for people who pay into pensions. A very admirable sentiment to be sure, he is championing the cause of the employee in suggesting that they should get back at least as much as they put in to any company pension. He also goes on to say that he is “convinced people have a huge appetite for certainty about pension savings”. Read more »
Posts Tagged ‘Auto-Enrolment’
The problems 3rd Sector employers are facing with their defined benefit pension schemes it would seem are at last getting the attention they deserve and momentum for change is building.
Recent articles confirming ATP’s attempt to launch a NEST comparative scheme led me to wonder what Federer, Djokovic or our own Andy Murray had to offer workplace pension reform……
On closer inspection (googling “ATP” and ignoring any tennis references) I was led first of all to a promising website called All Tomorrow’s Parties promoting concerts, and other hip cultural events featuring the likes of Portishead and Mogwai, but sadly, with nothing much to say about pensions. Further investigation (adding “pension” to my “ATP” google search) led to the Danish national pension agency, which made a little more sense.
I must admit when I think of Denmark it brings to mind bacon, the little mermaid, the eponymous pastries and more bacon. Which probably says more about me than it does about Denmark. The Danish ATP (or Arbejdsmarkedet Tillaegspension, as they say in Denmark) runs one of Europe’s largest pension schemes. In 2009 ATP pulled out of the running to provide administration services to what were then described as personal accounts. At the time PADA suggested that providing such services did not fit with ATP’s commercial model. Two years later things have clearly changed. Read more »