Quarterly Briefing Quarter 1 - 2022
This briefing is a supplement to the information contained on the Usdaw Pensions website, which contains a host of pension related information about workplace, personal and state pensions; www.usdaw.org.uk/Help-Advice/Pensions
Peoples Pension Saving Adequacy Report
Millions of people across the UK “wrongly” believe they are saving enough for retirement because they are contributing the amount set out by auto-enrolment regulations, according to B&CE, provider of The People’s Pension.
Over a third of people would accept lower pension savings for ethical investments
A report by the High Pay Centre suggests that people think companies’ social and environmental records should be important determinants of where their pension savings are invested.
Stronger Nudge to Pensions Guidance
Following consultation by the Department for Work and Pensions between 9 July 2021 and 3 September 2021 on proposed regulations implementing a Stronger Nudge to pension’s guidance the Government has responded by committing to ensure that, when preparing for retirement, savers are encouraged to access appropriate pensions guidance and to make it more accessible for those who want it.
Free and impartial guidance is provided by Pension Wise, for individuals aged 50 or above, and with a Defined Contribution (DC) pension.
Watchdog says people underpaid state pensions left ‘in the dark’ over entitlement
A report by the House of Commons Committee of Public Accounts said the state pension payment system was ‘unfit for purpose’ and called for clarity on how receiving a lump sum would affect people’s existing benefits – such as pension credit, housing benefit, and social care.
If you have any questions or require information on any pension related matter please contact the Pensions Department at Usdaw; [email protected]