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Column supplied by Wessex Pensions

New Year, New Challenges

Daniel Parkin

We are a month into 2018 already and with new regulations coming into force now, and additional red tape later on in the year, I feel it will be a challenging year in our industry. So for a change, I thought I would mention a new enquiry I have had in 2018, as I would expect this to become more commonplace as we approach the final staging dates for employers setting up new workplace pension schemes. A woman called following our

communication to her explaining that she had joined her employer’s workplace pension scheme. She wanted to say thank you for the letter and went on to say that she had worked for companies before and not known whether she had joined their pension scheme, as she had never had confirmation, apart from deductions in her pay slip. She had found some paperwork from an old scheme and wanted to know what to do with it. I explained

her options and then she stated that she had another scheme somewhere but was going to forget about it as she had no idea what it was. I explained that this was not a good idea and referred her to the Pension Tracing Service that the government expanded back in 2016. According to figures in May 2016, there was more than £400m in unclaimed pension funds and 169,000 tracing requests had been made. With an average person having 11 jobs during their lifetime, you can see why. A report from DWP had shown an increase of 5.2million employees being enrolled into a pension scheme from when auto enrolment started in October 2012. That’s a massive increase and with job changes, moving home and potential lack of communication from some pension providers, the government needs to do more to ensure people do not lose track of their pensions, however long they have worked for an employer, or regardless of how many schemes they have. It is all well and good enrolling employees into a pension scheme, but they need to know their pensions are safe, easily traceable and when they join a new pension, they should know exactly where it is. My New Year’s resolution is to encourage people to trace any old pensions they may have had and update their records. But, at the same time, try and ensure I have less stress in my life, manage that work/life balance and continue to enjoy the job I do. So let’s see how that goes this year.

For more information about pensions, telephone Daniel Parkin on 07801 432182. 17 Headlands Business Park, Salisbury Road, Ringwood, Hampshire BH24 3PB

Sheen charged Last December, Hampshire Police asked for the public’s help to find William George Sheen, 21, who was wanted in connection with burglary incidents. In January, Sheen of Marryat Road, New Milton was arrested and charged with assault, criminal damage and burglary. He was also arrested on warrant for failing to appear for the following offences: assault causing actual bodily harm, possession of an offensive weapon and a public order offence. He was remanded in custody and was due to appear at Southampton Magistrates’ Court on 31 January.

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VIEWPOINT February 2018

Viewpoint February 2018  

INSIDE THIS ISSUE: Two found guilty of murder - Man charged with arson - Are you looking for the challenge of a lifetime? - Chinese cream te...

Viewpoint February 2018  

INSIDE THIS ISSUE: Two found guilty of murder - Man charged with arson - Are you looking for the challenge of a lifetime? - Chinese cream te...

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