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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 ...
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 Universities Superannuation Scheme is a pension scheme in the United Kingdom with £89.6 billion under management as of August 2021 (up from £67 billion in 2019).It has over 400,000 members, made up of active and retired academic and academic-related staff (including senior administrative staff) mostly from those universities established prior to 1992 (staff in the post-1992 universities ...
Small Self Administered Scheme. Small Self Administered Scheme (SSAS) is a type of UK Occupational Pension Scheme. Schemes are trust-based and established individually, usually by directors of limited companies [1] for specified employees of the company. Since Pension Simplification (also known as A-Day), SSAS has been available for ...
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). [1]
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. It is a defined benefit pension plan. Administration is carried out through 89 regional pension funds such as Greater Manchester Pension Fund and London Pensions Fund Authority.
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 ...
Pension Protection Fund. The Pension Protection Fund ( PPF) is a statutory corporation, set up by the Pensions Act 2004, and has been protecting members of eligible defined benefit (DB) pension schemes across the United Kingdom since 2005. It protects close to 10 million members belonging to more than 5,200 pension schemes across the UK.
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