The winding up of People Can, which provided homelessness support services on behalf of several English local authorities, has shocked the voluntary sector and led it’s former Chief Executive, Maff Potts, to issue an impassioned plea for change . There is a concern that the People Can scenario could be replicated across the sector with hundreds of organisations being driven in to administration by their pension liabilities.
This is an issue I’ve raised consistently over the last number of years and have made some comments on the potential impact in an article by Patrick Butler in the Guardian.
The Department for Work & Pensions have said that they will review the compensation cap to ensure that long serving workers are not unfairly penalised.
The cap is one of the fundamental elements of the PPF’s compensation structure and any change will affect the long term strategy of the PPF to be self funded by 2030. It will of course be of immediate interest to all levy payers as if any increase was agreed then the levy will increase, all else being equal. Read more »
Well that was the year that was or was is it that’s another fine mess you have got me into or was it bring me sunshine……
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When you wake up on Christmas morning, the last thing you would ever expect to be gift wrapped under the Christmas tree would be a pension. Having said that, if over the coming years you didn’t fund towards a pension, then Christmases after retirement might be pretty much a non-event in terms of what lies beneath the tree not to mention the size of your turkey.
I guess the pension stigma still remains, in so much that funding for your retirement is way down the list of priorities. Many have yet to give any consideration to a pension, not to mention the on-going bad press surrounding the word ‘pension’. Read more »