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Are auto-enrolment pension contributions set to go up?

Earlier this year, Jelf Employee Benefits mentioned that the then minister for pensions was openly discussing the need for an increase in the minimum level of auto-enrolment pension contributions.

This topic did not feature in the election debate on pensions, yet now that the dust has settled on a new majority administration Conservative government, and indeed a new pensions minister in the form of Dr Ros Altmann, we suspect that this subject will soon rise towards the top of the agenda again.

With this in mind, we asked more than 200 Jelf Employment Seminar delegates (mostly senior HR and finance professionals) how they would view a further increase to the auto-enrolment contribution rates. It is fair to say that the results of the survey (which can be seen via this link) proved something of a surprise, with a large level of employer support for any increase.

These findings have been widely reported in the employee benefits and HR media over the last few weeks, but for those looking for some additional thoughts on this topic we would refer you to Steve Herbert’s article on the Mindful Money website.

So, on this evidence at least, it appears that there will be limited opposition to such a move from employers. Time will tell if and when the new government look to progress this issue further.



Challenger banks join FTSE 250

Aldermore, OneSavings Bank and Shawbrook have been admitted to the FTSE 250. At the start of last week, the FTSE Group conducted its quarterly review of the 250 index – the 101st to 350th largest companies listed on the stock exchange – to decide which companies should enter and which companies should drop out. Following […]


The Great Divide: Unequal Societies And What We Can Do About Them, by Joseph Stiglitz

Joseph Stiglitz won the Nobel Prize for Economics in 2001 and, when you win that prestigious award, people listen to you. He was also chief economist at the World Bank and chairman of the Council of Economic Advisers to the US president. Now a Columbia University professor and economist, as well as an author, Stiglitz […]

Virgin simplifies online affordability calculator

Virgin Money has simplified its online affordability calculator to smooth out the application process. Previously, when a broker completed an online affordability assessment using the calculator, they were presented with up to three affordability outcomes based on high, medium or low credit scores. But now the calculator will only return one outcome, which the lender […]


RBS to rehire banker behind ABN Amro deal for share sale

A banker who worked on ill-fated takeover of ABN Amro by Royal Bank of Scotland is set to return to advise RBS on the sale of the Government’s stake in the bank. The Financial Times reports Jim O’Neil is set to be announced as RBS’s corporate broker and privatisation adviser later this month. O’Neil previously […]

In Focus Ebola cover - thumbnail

White paper — In Focus: Ebola Virus Disease

Jelf Employee Benefits focuses on Ebola Virus Disease (EVD) and what this means for businesses with operations in West Africa. This will be of particular interest to those with employees either travelling to, or living within, West Africa, the area affected by the most catastrophic outbreak of Ebola to date.


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