Investment Life & Pensions Moneyfacts: Learning from how others see us

November 08, 2018 Tom Murray

Pensions auto enrolment autoenrollment auto-enrolled Autoenrolment

Learning from how others see us  This article was originally commissioned for the October 2018 edition of the Investment Life & Pensions Moneyfacts Magazine.  Tom Murray considers why the Government should examine the external view of auto-enrolment before considering the best way to raise contribution levels.   It is now six years since the introduction of auto-enrolment into the UK and there have been a number of reports assessing the impact of the project on the level of pension savings in the UK.  On the whole, these have been primarily positive, with a large increase in the number of people saving and a lower level of opting out than was previously expected.  
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Strawman more urgent than snowman

March 02, 2018 Tom Murray

irish government pension reform Autoenrolment politics snow

Strawman more urgent than snowman   The Irish Government’s latest foray into the world of pension reform has been buried under an avalanche of snow. Given the ageing population in Ireland and the ever-mounting costs of providing for people in their old age, this issue deserves far more front-page space than the ability of people to survive two days without a fresh supply of bread or milk. Such is human nature, however, that we find Storm Emma dominating the front pages whilst the government plans for pensions are firmly buried deep in the business sections.
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Virgin Money Life Insurance, Auto Enrolment & Blockchain

blockchain life insurance Autoenrolment

Virgin Money launch new life insurance product ...Building upon the success of Junction, BGL Group’s personal lines affinity insurance business, which is the largest in the UK, the contract with Virgin Money is the first life insurance affinity partnership for BGL Group....
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INVESTMENT LIFE & PENSIONS MONEYFACTS: Cushioning the blow

October 27, 2016 Tom Murray

policy Autoenrolment protection Income Protection

This article was originally commissioned and published in the  October 2016 edition of the Investment Life & Pensions Moneyfacts publication.  Tom Murray suggests that the Government should move away from using investments as a policy tool and compel people to protect themselves financially instead.   INVESTMENT LIFE & PENSIONS MONEYFACTS: CUSHIONING THE BLOW Succeeding Governments have concerned themselves with the financial insecurity of those on the bottom rungs of society. The plight of those whose earnings don’t allow them to amass a significant financial cushion to cope with unexpected events has struck a chord with ministers from all parties, who have tried to come up with solutions that will support people at times of great financial stress. The motive is admirable. Let’s help the ordinary worker build a stockpile of savings to be able to cope with life’s ups and downs. However, the focus always seems to be on pushing savings for a rainy day, which ignores the basic problem that for the majority of basic rate taxpayers, it takes far too long to amass sufficient savings to provide any level of security.
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Micro-firm’s auto-enrolment nightmare

June 09, 2015 Tom Murray

Pensions UK Life and Pensions technology SMB

The flood gates are about to open. Less than 50,000 employers had auto-enrolled by the start of this year and a similar number will do so by the end of 2015, as more medium and smaller employers come on stream. However, it is in 2016 when the big push will come, with over 100,000 due to auto-enrol in the first quarter alone. This is because we are arriving at the staging dates for employers with less than 50 employees, which kicks in at the start of this year and then rapidly increases, so that the tax year 2016/17 should see the auto-enrolment of over 600,000 schemes.
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TechLife Exaxe Newsletter June 2013

June 17, 2013 Sharon Cronin

Channel Plus Illustrate Plus Pensions UK Invest Plus

The June print edition of TechLife is now available. TechLife is published every quarter and is filled with industry news, white papers and information on legislative changes.
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Regulation to safeguard savers is self-defeating

December 05, 2012 Tom Murray

low risk high risk Pensions UK EU

We need to grow up and accept risk. There is no way that we can invest money and hope for significant growth outstripping inflation without undergoing some risk that investments may go wrong and the final amount we get will be less than our original contributions.
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Pension reform requires leading, not nudging

May 16, 2012 Tom Murray

Steve Webb contradiction department for work and pensions Pensions Life and Pensions

Can we not be honest with people? Must we really be so patronising that we actually have to try to nudge their behaviours as opposed to leading from the front and telling people the hard, honest truth?
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A Pension Christmas Carol

December 20, 2011 Tom Murray

christmas carol Pensions scrooge financial future Autoenrolment

The ghost of pension’s future
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Compulsion may be the only choice for pensions

June 29, 2011 Tom Murray

Pensions superannuation Life and Pensions regulation NEST

Monday’s Populus survey for the National Association of Pension Funds (NAPF) showed that 47% of those aged between eighteen and thirty-four would save more for their retirement if they knew how much state pension they would get. Accordingly, the NAPF have stated that the reason for the lack of saving for the future with young people is that the government have failed to make it clear what level of state pension will be available in the future, so it’s their fault that nobody is saving. This makes the government a handy scapegoat but, in truth, the connection between government clarity over state pension pay outs in thirty years time and the lack of urgency felt about savings by today’s young people is slightly tenuous. To see what the survey is saying, you have to consider the likely basis for individuals answering the questions. For a start, no matter how much the marketing companies try, the setting is completely artificial. The respondents are asked a specific set of questions, which by their nature focus them on the issue in hand.
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