Tag Archives: DWP

The Department for Work and Pensions (DWP) is urging people to help older relatives check if they are eligible for a £3,500 income boost. This follows as an estimated 850,000 pensioners across the country are missing out on the passport benefit. Pension Credit gives people extra money to help with …

A new report from the Office for National Statistics (ONS) the average weekly expenditure for households aged between 65 and 74 was £455.30 in 2021/22. In total, that’s approximately £23,000 each year. Meanwhile, households, where the head is aged over 75, had an average weekly spend of £356.30 per week. …

Labour Party’s choice of LTA as election battleground branded ‘short-sighted’ The Labour Party’s denouncement of the government’s plan to scrap the lifetime pension allowance as a “£1bn bung to the richest 1%” is short-sighted, Barnett Waddingham says. TPR authorises Royal Mail as UK’s first CDC scheme The Pensions Regulator has …

Christmas is just a few days away and in a bid to secure fairer working conditions and better pay, a raft of workers are set to walk out. Among those striking for better deals include NHS nurses, paramedics, Border Force passport officers, driving examiners and DWP staff, as well as …

The cost of living crisis has hit many households hard and as the days continue to get colder costs will only be going one way. The Department of Work and Pensions (DWP) provides crucial support to these households to keep them afloat. Over the Christmas period many of them will …

The schemes allow savers to pool money into a single fund which pays an annual income. The first company expected to open a CDC scheme is Royal Mail, … Source link

A number of large UK pension schemes have written a joint letter to the Work and Pensions Committee (WPC) to raise concerns about the application of new stronger nudge requirements in certain circumstances. The letter raised specific concerns in relation to defined benefit (DB) schemes with defined contribution (DC) additional …

The government’s response to the fourth recommendation of the Work and Pension Committees’ (WPC)  24 design reforms laid down in January – published yesterday (27 April) – addressed the question of whether it would publish a framework for assessing the success of the Royal Mail CDC scheme and other early schemes. …

April is a month of financial change bringing with it energy price hikes, a rise to benefits delivered by both the Department for Work and Pensions (DWP) and HM Revenue and Customs (HMRC), increases to the National Living Wage, Council Tax and National Insurance Contribution deductions. But there’s a lot …

Allowing the use of age-related contributions in collective defined contribution (CDC) schemes could be a “game changer” in making CDC more appealing to a wider range of schemes and ensuring fairness for younger savers, according to LCP. Pensions Minister, Guy Opperman, yesterday (28 March) signaled his intent to hold a …