PLSA supports auto-enrolment, discrepancies review in Parties’ manifestos

first_imgThe UK’s Pensions and Lifetime Savings Association (PLSA) has stated it supports the pension pledges in relation to expanding auto-enrolment to low-income and self-employed workers in the Labour Party manifesto.Nigel Peaple, director of policy and research, said the PLSA is also “very strong supporters of the creation of a publically run, non-commercial dashboard, although we are open-minded to others being created in the future provided a comprehensive consumer protection regime is in place”.According to PLSA research, less than 50% of all savers are on track to achieve an adequate income in retirement, and for those that only have a defined contribution pension plan, only 3% of savers are likely to achieve this outcome. Just 23% of people are confident they know how much they need to save for retirement, an issue the new PLSA Retirement Living Standards seeks to address by starting a national conversation about saving.“Our Hitting the Target report (2018) recommended raising minimum automatic enrolment contributions to 12% by 2030 with consideration given to moving to a 50/50 employer/employee split. This will improve pension adequacy and help more people achieve a better income in retirement,” said Peaple. Nigel Peaple at PLSA: ”More must be done to encourage further saving in workplace pensions”Conservative Party on pensionsIn contrast, Peaple supports the Conservative Party’s manifesto commitment to conduct a review into the discrepancies between net pay arrangements and tax relief at source for pensions.He said: “The discrepancy means automatic enrolment contributions for savers who earn between £10,000 and £12,500 are more expensive for those on net pay arrangements. It is our view that this can be fixed by adjusting the data gathering system used by HMRC.”He was pleased with the Conservatives’ pledge to reintroduce the Pension Schemes Bill, which includes important measures to discourage reckless behaviour by a small minority of scheme sponsors, as well as a provision for the creation of a consumer-focused pensions dashboard.Peaple stressed that the initial dashboard must be non-commercial and no others should be introduced until a rigorous consumer protection regime is in place.However, he was disappointed that the manifesto did not include any commitments to extend the scope of pension automatic enrolment to include younger workers, or lower paid workers with multiple jobs, and the self-employed, which the Labour manifesto does.“The manifesto also fails to commit to raising the minimum contribution levels for automatic enrolment from the current level of 8%,” Peaple said. “More must be done to encourage further saving in workplace pensions, which represent very good value for money for savers versus other types of savings vehicles,” he added.However, Peaple said that he was “extremely concerned by the significant negative implications Labour’s plans to nationalise water and energy utilities, train companies, Royal Mail and parts of BT Group could have on the value of UK savers’ pensions and the wider longer-term impact on the private sector’s willingness to invest in the UK infrastructure and economy”.“Nationalisation is a complicated and cumbersome process, and would have a significant impact on UK pension funds and the savers they have a fiduciary duty to serve,” he continued.last_img read more

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Report: DEA launching probe into how Angels’ Tyler Skaggs obtained drugs

first_imgOne federal law enforcement agent, speaking on condition of anonymity, told ESPN that fentanyl has been showing up “everywhere, even in marijuana.”Skaggs’ family retained prominent attorney Rusty Hardin to represent them when the Southlake Police Department opened its investigation into the pitcher’s death. The family is also seeking to learn how Skaggs came into possession of the opioids that contributed to his death, including who supplied them.In a statement released by the family when the Tarrant County Medical Examiner’s office released its autopsy report on Aug. 30, it was suggested that an Angels employee might have been responsible for supplying the drugs.“We were shocked to learn that it may involve an employee of the Los Angeles Angels. We will not rest until we learn the truth about how Tyler came into possession of these narcotics, including who supplied them,” the statement said.The ESPN report confirmed that no Angels team employee has been connected to Skaggs’ death or targeted as of yet in the investigation being conducted by the Southlake PD. Newsroom GuidelinesNews TipsContact UsReport an Error “We continue to cooperate with law enforcement on this important matter,” Angels team spokesperson Marie Garvey said in statement in the ESPN report.After the autopsy report came out, it was reported that Major League Baseball will conduct its own investigation into the matter and will discuss the possibility of more widespread testing for opioids with the players’ association.“For several reasons, including the tragic loss of a member of our fraternity and other developments happening in the country as a whole, it is appropriate and important to re-examine all of our drug protocols relating to education, treatment and prevention,” union head Tony Clark said in a statement earlier this month.center_img The Drug Enforcement Administration has launched an investigation to determine where Angels pitcher Tyler Skaggs obtained the drugs that were in his system at the time of his July 1 death in Southlake, Texas, ESPN’s “Outside the Lines” reported on Wednesday.An autopsy released Aug. 30 found evidence of fentanyl, oxycodone and ethanol along with alcohol in Skaggs’ system when he was found dead in his hotel room. The fentanyl drew the attention of federal investigators, the report, which quoted anonymous sources, said. The report noted that the DEA frequently gets involved in fentanyl cases in an effort to track down the source of the drug.The powerful synthetic opioid has been linked to a number of high-profile drug-related deaths, including musicians Prince, Tom Petty and Mac Miller. Finding the sources who are behind the distribution of fentanyl has become a high priority.Skaggs, 27, was found unresponsive in his hotel room hours before the Angels were to begin a series against the Texas Rangers, having choked on his own vomit.last_img read more

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