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National Employment Savings Trust (NEST) is one of the qualifying pension schemes that employers can use to meet their new duties. It was set up as part of the government's workplace pension reforms. Nest is a trust-based defined contribution pension scheme, run by a trustee (Nest Corporation) on a not-for-profit basis.
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. [1] It is a defined benefit pension plan. Administration is carried out through 89 [2] regional pension funds such as Greater Manchester Pension Fund and London Pensions Fund ...
This is referred to as automatic enrolment, and moves a significant amount of responsibility onto the employer to ensure that their employees are enrolled in a workplace pension scheme. [12] Research based on ONS labour market data has found that partly due to the equalisation of the state pension age, women are driving employment growth in the ...
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.
Throughout its existence as a well known public sector pension scheme, [5] the LPFA has been a key figure in influencing the Local Government Pension Scheme for local government employees and others across the United Kingdom and is described by Bloomberg, as among "the world's biggest investors" [6] It contributes to debates on issues related ...
These percentages are the entitlement of employees who have contributed to the scheme for a full working life. This is defined as the number of years between age 16 and State Pension Age. If the employee was over age 16 on 6 April 1978, their working life is defined as the number of years between 6 April 1978 and their State Pension Date.
The PPF pays two levels of compensation which are set out in legislation:[6] • If members are over the normal pension age of the scheme, or are in receipt of a spouses, dependants or ill health pension they will receive 100 per cent of the pension in payment when the company entered insolvency. • If a member is an early retiree or under the ...
Self-invested personal pension; Small Self Administered Scheme; Social Security Contributions and Benefits Act 1992; Stakeholder pension scheme; State Earnings-Related Pension Scheme; State Pension (United Kingdom) State Second Pension; Superannuation Act 1834; Superannuation Act 2010