DWP simplifies criteria for 'good' pension schemes

The Making Automatic Enrolment Review - published this morning - said employers who run good schemes wanted certainty over whether contributions based on these definitions are enough to meet the legislated amounts. It said if they had to change their scheme rules to achieve this, there was a real risk the revised rules may be somewhat less generous overall. Today's Review provided further clarity for employers. It said schemes meeting one of the following criteria could be certified as meeting the requirements: a minimum 9% contribution of pensionable pay (including a 4% employer...