Atos quits fit to work contract a year early March 27, 2014 Atos is set to abandon its contract to deliver for work capability assesments a year earlier than planned. The company's £500m contract was set to end in August 2015. A new company will be appointed in the early part of 2015, while Atos will "not receive a single penny of compensation,"according to the disabilities minister [...]
DWP pensions cap plan in doubt December 18, 2013 The government’s plans to cap pension management fees by next April have been dealt a blow, after The Regulatory Policy Committee deemed the impact assesment “not fit for purpose.” The cap, which would apply to those who are auto-enrolled into a scheme, was expected to be set at 0.75 per cent. The RPC said the [...]
NAO: Universal Credit is not value for money December 10, 2013 THE NATIONAL Audit Office has criticised the Department for Work and Pensions, saying that its Universal Credit programme does not provide value for money. The flagship scheme, championed by work and pensions secretary Iain Duncan Smith, has come under heavy scrutiny over the past few days after it emerged that £40.1m worth of IT spend [...]
Regulator calls for pension crackdown from government September 19, 2013 Weaknesses in the system mean some savers are not getting value for money when it comes to their pensions, says the Office for Fair Trading (OFT). (Release) The OFT published a market study today and, in agreement with The Pensions Regulator (TPR) has agreed a set of reforms to the £275bn market for defined contribution [...]
Faith in politics at risk from bad data, MPs warn February 25, 2013 GOVERNMENT departments are fiddling figures and ignoring official guidelines on the proper use of data, undermining public confidence in important numbers, an influential committee of MPs has ruled in a report out today. The public administration select committee praised the statistics code itself, arguing that reliable figures are vital to good policy and to public [...]
Back-to-work scheme ruled illegal by court February 12, 2013 THE GOVERNMENT’S back-to-work programme was thrown into disarray yesterday after a judge ruled that many schemes that make the unemployed work for free are unlawful. Graduate Cait Reilly, 24, claimed victory after the Court of Appeal ruled that a programme she took part in – which required her to undertake work experience at Poundland or risk [...]
Death knell for final salary in pension rejig November 22, 2012 A NEW workplace pension model was proposed yesterday in an effort to limit the financial risk for both employers and employees. Under the controversial proposals, the Department for Work and Pensions (DWP) has suggested an employer can end a final salary pension scheme when an employee leaves the firm, thereby cutting the firms’ risk exposure. [...]
Webb admits pension reform will hit employee pay packets September 19, 2012 THE cost of rules that will force firms to enrol their employees in pensions schemes is likely to hit wages or be passed on to consumers through price hikes, Steve Webb admitted today. Firms have told the pensions secretary that they will reduce pay and other benefits, increase prices or cut dividends to cover the [...]
DWP denies pension plan block September 18, 2012 ■ A Department for Work and Pensions spokesperson told City A.M. that pension reform was proceeding as planned in the Queen’s speech earlier this year, after reports that Prime Minister David Cameron was stepping in to hold up reform. Cameron is said to have personally intervened in pension reform plans, worrying that a flat-rate payment [...]
Benefit errors declining February 23, 2012 The Department for Work and Pensions (DWP) cut overpayments and underpayments of benefits last financial year, according to data released yesterday. Fraud and error resulted in 2.1 per cent of total benefit expenditure, or £3.2bn, being overpaid in 2010-11. That was down from 2.2 per cent, or £3.3bn, in 2009-10.