UK - The Trades Union Congress (TUC) has warned government against backtracking on plans for auto-enrolment, claiming it would consign another generation to pensioner poverty. In a submission to the workplace pension review, which is tasked with reviewing plans for a National Employment Savings Trust (NEST), the union said any reversal in plans for auto-enrolment would undermine "the fragile consensus on workplace pension reform". TUC assistant general Kay Carberry said: "While any new government should closely examine the introduction of a major reform of workplace pensions, major changes now risk undermining the whole package before it has even started. "While no group is 100% happy with NEST, a careful cross-party consensus has been forged over the last five years." The TUC said it supported a review of NEST in 2017; five years after auto-enrolment is scheduled to come into force. Carberry said: "The new workplace pensions are simply too important to fail." In other news, the £70m (€85m) Royal British Legion Staff Pension Fund has appointed Hewitt Associates to provide investment consultacy services. As part of the mandate, Hewitt will look at the scheme's investment strategy, monitor fund managers and examine their reports, as well as find new investment mandates. Additionally, the consultancy will train the scheme's trustees to fully understand all invstment decisions they are undertaking. John Rushen, Hewitt's UK head of investment consulting, said they were looking forward to working with trustees and getting the scheme into the best financial health. He added: "The Royal British Legion has a special place in UK society and it is a considerable honour for Hewitt to be working with an organisation of such significance and prestige."
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