We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Government delays ‘rip-off’ pension charge cap until 2015
Former_MSE_Michael
Posts: 95 Forumite
"The Government is delaying the introduction of a cap on 'rip-off' pension charges for at least a year..."
Read the full story:
Government delays ‘rip-off’ pension charge cap until 2015
Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
Government delays ‘rip-off’ pension charge cap until 2015
Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
0
Comments
-
The real "rip-off" is that employers (who already pay National Insurance) are forced to contribute to these pensions for privilege of giving somebody a job. They get no benefit from them, so they are the ones being "ripped off".0
-
chattychappy wrote: »The real "rip-off" is that employers (who already pay National Insurance) are forced to contribute to these pensions for privilege of giving somebody a job. They get no benefit from them, so they are the ones being "ripped off".
Employers have been given sufficient time to prepare for this- many have covered the cost by freezing nominal wages, and used the pay increases they would otherwise have given.
It's just part of the pay+benefits package.0 -
I just think it would be good to quote the value of an employment package in its entirety. The true value of pensions would then be made clear, particulalry defined benefit ones, though no doubt there would still be arguments about whether the assigned benefit is accurate.0
-
My company (about 20 employees) says it won't be taking part in the new pension scheme, do you have to be a certain sized business to be forced to take part?0
-
shireknight wrote: »My company (about 20 employees) says it won't be taking part in the new pension scheme, do you have to be a certain sized business to be forced to take part?
They'll have to offer a pension, teh latest date is early 2018, google auto enrollment pension dates for some more detailed info.0 -
They will be forced to take part between 1 Jan 2016 and 1 April 2017.0
-
I think most people will just get enough of a personal pension to deprive them of benefits,quite a shrewd move:-) The government wastes our national insurance payments and gets the employers and workers to pay for two pensions!0
-
For most, the plan is that the flat rate state pension will do that, it's set at a level a few Pounds over the threshold.
What the lower levels of pension contributions do is replace the removed S2P, formerly SERPS, income-related part of the state pension. Losing that takes away around £50 a week on top of the £144 flat rate for a low earner with a full working life.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.4K Banking & Borrowing
- 253.3K Reduce Debt & Boost Income
- 453.8K Spending & Discounts
- 244.4K Work, Benefits & Business
- 599.7K Mortgages, Homes & Bills
- 177.2K Life & Family
- 258K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards