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Colm Fagan has published a paper so that recipients can study its proposals in detail and form a judgement on their merits.
The paper proposes a new approach to auto-enrolment (AE), designed to deliver higher pensions than under the previous government’s AE proposals, at half the cost: total contribution 7% (3% employee and employer, 1% state) compared with 14% (6% employee and employer, 2% state) under the previous government’s proposals. The higher benefits come from investing in equity-type assets with smoothing of investment returns, combined with a seamless and low-cost transition from pre-retirement to post-retirement.
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