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The Pensions Act 2008 is an Act of the Parliament of the United Kingdom. The principal change brought about by the Act is that all workers will have to opt out of an occupational pension plan of their employer, rather than opt in. This is referred to as automatic enrolment, and moves a significant amount of responsibility onto the employer to ...
A career average pension or career average revalued earnings pension (CARE pension) is a type of occupational pension scheme, where people saving for retirement pay for a benefit after retirement where they will receive a sum that is calculated according to their average earnings over their career. [1] Particularly in UK pensions, this model ...
The Local Government Pension Scheme (LGPS) is one of the largest public sector pension schemes in the United Kingdom, with 6.4 million members from 15,000 employers. [1] It is a defined benefit pension plan. Administration is carried out through 89 [2] regional pension funds such as Greater Manchester Pension Fund and London Pensions Fund ...
Independent Public Services Pensions Commission. The UK Chancellor invited John Hutton to chair an independent commission on public service pension provision. [1] This was intended to reduce the otherwise increasing cost of taxpayer-funded state pensions (as life expectancy increased) while ensuring adequate levels of retirement income.
An Act to consolidate certain enactments relating to pension schemes with amendments to give effect to recommendations of the Law Commission and the Scottish Law Commission. The Pension Schemes Act 1993 ( c. 48) is a United Kingdom Act of Parliament that concerns the administration of occupational pensions .
Website. www.nestpensions.org.uk. The National Employment Savings Trust ( NEST) is a defined contribution workplace pension scheme in the United Kingdom. It was set up to facilitate automatic enrolment as part of the government's workplace pension reforms under the Pensions Act 2008. Due to its public service obligation, any UK employer can use ...
The Pensions Ombudsman is a non-departmental public body stewarded by the Department of Work and Pensions, and the Ombudsman and Deputy Ombudsman are appointed by the Secretary of State for Work and Pensions. The Ombudsman is an independent commissioner; he and his staff are not civil servants. His brief is to resolve disputes of fact or law ...
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