Associated British Foods has seen a less than 3 per cent opt-out rate and significant engagement from 1,500 employees auto-enrolled in February, after an extensive awareness campaign and popular default investment strategy.
The government has said a “black and white” debate about differences in governance standards at contract and trust-based schemes is an unwelcome distraction from ensuring high standards across all arrangements.
Liquidity requirements for defined contribution schemes are hampering their investment returns and ability to compete with defined benefit plans on the replacement income provided in retirement, an institutional investor group has warned.
Employees too young to be auto-enrolled have been a notable group opting in to workplace saving, the NAPF has reported, calling it one of the most interesting aspects of auto-enrolment so far.
News analysis: The government’s decision to ban consultancy charges in all auto-enrolment schemes has been broadly welcomed, but the change is predicted to have a big impact on smaller employers.
Pension professionals have welcomed plans for the government to legislate on further minimum standards for auto-enrolment to ensure schemes meet quality benchmarks.
Prudential Staff Pension Scheme has made some tweaks to its benefits set-up to meet the legislative requirements for auto-enrolment, including setting its multi-asset lifecycle strategy as the scheme default.
Contract caterer Elior is preparing for a series of peaks during the initial stages of going live with auto-enrolment in July, due to the seasonal nature of its work in the sports industry.
The John Lewis Partnership has reported an initial 5 per cent auto-enrolment opt-out rate and increased saving interest from teenage employees, after a widespread engagement campaign and membership survey.
Tesco’s planned annuity comparison service has been welcomed by its competitors as well as the manager of the Pennon Group Pension Scheme, which encourages its members to shop around at retirement.
pensionsweek: Top story is on ABF's TDFs/comms recipe for 3% opt-out http://t.co/ev7ooJJ3dz #autoenrolment
pensionsweek: Managing auto-enrolment? http://t.co/ev7ooJJ3dz our microsite has the latest case studies, video and news analysis on the employer duties
pensionsweek: RT @iankmsmith: On Associated British Foods' use of TDFs and comms for auto-enrolment and its resulting tiny initial opt-out rate http://t.…
pensionsweek: This week's splash: Associated British Foods reports 3% AE opt-out http://t.co/ez7TEcZyIt
pensionsweek: Experts divided over code change implications: http://t.co/0PXqn3jz20