Thread on the massive help @DWP @10DowningStreet + @hmtreasury + others are giving to:
- help firms with pension contributions to pay
- safeguard your pension
- help our vulnerable pensioners
- ensure pension scams are avoided 1/
Working with @TPRgovuk we have helped Defined Contribution employers by ensuring their Automatic Enrolment contributions are covered by the #Coronavirus Job Retention Scheme 2/
thepensionsregulator.gov.uk/en/covid-19-co…
We have cancelled the 10% rise in the #PensionsLevy helping the industry cope in these difficult times 3/ professionalpensions.com/news/4013268/g…
Massive work reaching out to 10s of thousands of #vulnerable #PostOffice Card Account customers - many of whom are v elderly / vulnerable and some alone: full credit to @PostOffice + team @DWP 4/
google.co.uk/amp/s/www.thes…
Stopping #Covid19 pension scams: pls
📱Learn how to protect yourself at ScamSmart fca.org.uk/scamsmart
🔎 Get free / independent guidance at Pension Wise
@TPASnews
💷 Use an @TheFCA authorised adviser
⚠️ Be wary of “get rich quick” schemes
🚫 Think before you make a change 5/
And earlier this April the #StatePension rose by 3.9%, with the new StatePension now worth £175.20 per week in the 2020-21 tax year, up from £168.60. Arguments by many on triple lock for another day but pensions now worth well over £1000 thanks to it 6/
telegraph.co.uk/money/consumer…
I meet remotely every week with #Pension Regulator + Protection Fund Chief Execs + there is good work being done assisting #DB funds and trustees get through #Covid-19 + still pay out long term ⬇️. 7/
thepensionsregulator.gov.uk/en/covid-19-co…
And on #pensiontransfers pls think v long and hard / take proper independent advice before acting 8/
pensionsage.com/pa/Savers-urge…
And for those on furlough:
Govt is covering 80% of salaries up to £2,500 a month until the end of June.
+
Job Retention Scheme also covers 3% employer contribution into staff pension pots on earnings between £520 and £2,500 a month 9/
thisismoney.co.uk/money/pensions…
And good coverage today of our partnership with the @PostOffice to ensure the most vulnerable shielded pensioners are being checked on and helped 10/
telegraph.co.uk/news/2020/04/2…
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