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07

ACA takes stock of workplace pensions

Open-access content Tuesday 2nd July 2013 — updated 5.13pm, Wednesday 29th April 2020

The Association of Consulting Actuaries has launched a major survey of employers’ pension provision. It wants to know how the government’s auto-enrolment policy is progressing.

The survey will examine trends in pension contributions by employers and workers, and changes driven by auto-enrolment - under which 1.3 million employers must over the next six years enrol eligible employees into pension schemes and make contributions. More than 14,000 employers have to comply within the next year alone.

The ACA is also testing employers' views on proposals for auto-escalating pension contributions, pension income guarantees, DB Lite or defined ambition schemes, collective defined contribution schemes and fixed-term pensions.

In evidence to the Commons public bill committee, which is currently reviewing the proposed legislation, the ACA has said draft regulations were urgently needed if employers were to meet deadlines set out in the Pensions Bill.

To complete the survey, go to www.aca.org.uk  and click on the link from the home page.

This article appeared in our July 2013 issue of The Actuary.
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