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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 ...
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 Nest to meet its new workplace ...
A personal pension scheme ( PPS ), sometimes called a personal pension plan ( PPP ), is a UK tax-privileged individual investment vehicle, with the primary purpose of building a capital sum to provide retirement benefits, although it will usually also provide death benefits. These plans first became available on 1 July 1988 and replaced ...
Basic State Pension. The basic State Pension (alongside the Graduated Retirement Benefit, the State Earnings-Related Pension Scheme, and the State Second Pension) is a benefit payable to men born before 6 April 1951, and to women born before 6 April 1953. The maximum amount payable is £169.50 a week (April 2024 - April 2025).
The Pensions Regulator (TPR) is a non-departmental public body which regulates work-based pension schemes in the United Kingdom. Created under the Pensions Act 2004 , the regulator replaced the Occupational Pensions Regulatory Authority (OPRA) from 6 April 2005 [1] and has wider powers and a new proactive and risk-based approach to regulation.
As the UK's biggest public service department it administers the State Pension and a range of working age, disability and ill health benefits to around 20 million claimants and customers. It is the second largest governmental department in terms of employees, [7] and the largest in terms of expenditure (£187bn).
Timeline of changes to the age at which eligible persons receive the United Kingdom State Pension .
Website. www .moneyandpensionsservice .org .uk. The Money and Pensions Service (sometimes stylised as Money & Pensions Service or MaPS) is a British organisation whose statutory objective is to develop and co-ordinate a national strategy to improve people's financial capabilities. [1] [2] The service provides impartial, free money and pensions ...
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