Latest news with #DepartmentForWorkAndPensions
BBC News
2 days ago
- BBC News
Cumbrian man pleads guilty to £26k benefits fraud
A man has admitted fraudulently claiming over £26,000 in benefits, which also put him in breach of a suspended sentence handed to him over a crowbar Andrew Waugh, from Great Corby in Cumbria, pleaded guilty at Carlisle Magistrates' Court to dishonestly failing to declare a change of circumstances which affected his Universal Credit papers showed he failed to tell the Department for Work and Pensions that his children were no longer living with him, leading to overpayments totalling £26,278 between December 2021 and July was on a suspended 18-month sentence from May 2022 following his involvement in an attack that left his victim with a fractured skull. The court heard the crowbar attack was a result of a bitter Facebook district judge Roger Lowe adjourned the benefit fraud case and requested a probation service pre-sentence report before Waugh, 49, receives his is due to be sentenced at Carlisle Crown Court on 26 August. In the meantime, he has been released on bail. Follow BBC Cumbria on X, Facebook, Nextdoor and Instagram.
Daily Mail
7 days ago
- Business
- Daily Mail
A pension at 18 is a pipe dream - but even £50 could give younger workers a six-figure pot, says HELEN CRANE
When did you first pay in to a pension? If you were born in the 1990s or later, there is a fair chance it was when you were 22. That is because of the launch of pension auto enrolment. Ever since October 2012, a 22-year-old starting a new job and earning above £10,000 could join their work pension by simply… doing nothing. Prior to that, doing nothing would have seen them excluded. In this famous example of nudge theory in action, the Government was taking blatant advantage of people's distaste for money admin and tendency to take the easy option, and it worked. It was nothing short of a pension saving revolution. A huge 88 per cent of workers who can save into a work pension do, according to Department for Work & Pensions figures from 2023. That is up from just 55 per cent in 2012. But now, we're told it didn't go far enough. Retirement fund: Young people have been told to start saving for a pension at 18 - but it will be hard to get motivated amid reports they might not retire until 74 This week, young people found out they should supposedly be saving for their retirement even earlier, at the tender age of 18. That's according to the boss of pension firm Legal & General Antonio Simoes – who would of course benefit greatly from people stuffing cash into their pensions for longer. It won't come as a welcome suggestion to young people for several reasons. Not least, that it is easy to suggest that you put more of your hard-earned pay packet towards retirement savings when you earned £10.6million last year like Simoes. It is also hard to feel motivated to save for retirement when, as a report published by the Institute for Fiscal Studies suggests, you may be working until the age of 74. This is the age it warned the state pension may have to rise to. Furthermore, a lot of 18-year-olds are now at university racking up debt and in no position to be saving any money at all. But even if they wanted to save more, young workers are having their finances stretched in all directions. If they have been to university, a 21-year-old starting their first job will have an average debt of £53,000, according to the latest Student Loans Company figures. Their rent will cost an average of £665 per month for a room in a shared house, according to Spareroom. They might get pay rises as they move through their twenties, but by that time they are hit by another wave of more pressing financial demands. If they want to put down a deposit on a home, they need to find an average of £34,500, according to UK Finance. If they dare to think about starting a family they will need to save up for maternity leave, for most of which they will probably be paid the statutory £187.18 per week. What young people do have on their side is time. If you can put even £50 into a pension each month, this can have huge benefits After that, childcare costs an average of £238.95 per week in England, according to MoneyHelper. It is no wonder this group is the most likely to opt out of their work pension. Last year, research by Barnett Waddingham found 55 per cent of 18 to 24-year-olds had previously opted out of their pension, and over a third of 25 to 30-year-olds. But opting out entirely isn't the only option. Auto enrolment requires you to pay in 4 per cent of your salary, after which the Government will provide 1 per cent in tax relief and your employer will pay in 3 per cent. If they are generous, they might pay more. If you're struggling, you may be able to pay in less. While your employer's contributions might reduce or stop, you'll still get the benefit of compounding gains on investments. What young people do have on their side is time. If you can put even £50 into a pension each month, this can have huge benefits. Even if you never increased your contribution, paying in £50 per month from the age of 22 to 67 would deliver a £172,000 pension pot. That is based on an annual return on your pension investments of 6 per cent. This is also helped by Government tax relief on pension contributions, which would instantly turn your £50 into £62.50. If you can pay in £100 a month instead, this would give you a pension pot of £276,000 after 45 years. And if you managed to boost that later, for example when you get a pay rise, your pot would grow even more. This week, the Government launched a Pensions Commission to address the poor pension prospects of those not included in auto-enrolment – including low earners and the self-employed. The Government also lamented the fact that, while auto enrolment boosted participation in workplace pensions, many workers 'only' put aside the minimum contribution level. That's a tougher ask than it sounds for many – but if it is going to change, spelling out how even a small pension contribution can turn into £172,000 might be a good place to start. And if you are older and feeling generous, consider paying £50 a month into a pension for your children or grandchildren. One day, they'll be very grateful.
Daily Mail
21-07-2025
- Business
- Daily Mail
New Pensions Commission to tackle widespread under-saving that will make future retirees poorer
The Government has launched a new Pensions Commission to try to stop future retirees ending up poorer than older people today. It says nearly half of working age adults are saving nothing at all into a pension - despite the success of auto enrolment into work schemes - and nearly 15million people are under-saving for retirement. If nothing changes, retirees in 2050 will be living on £800 a year or 8 per cent less in private pension income than those in retirement now, it predicts. Lower earners, the self-employed and some ethnic minorities are particularly at risk, and there is a stark 48 per cent gender gap in private pension wealth, according to the joint statement by the Treasury and Department for Work and Pensions. The move to revive the first landmark Pensions Commission, which issued a report in 2006 that laid the groundwork for auto enrolment, is intended to devise plans to address these problems. It will explore the 'complex barriers stopping people from saving enough for retirement', and report back in 2027. The Government says: - A woman currently approaching retirement can typically expect a private pension income worth over £5,000 less than that of a man, or just over £100 per week compared to just over £200 a week; - More than three million self-employed people are not saving into a pension; - One in four low earners in the private sector are saving into a pension; - And one in four people from a Pakistani or Bangladeshi background are saving into a pension. It adds that despite the introduction of automatic enrolment boosting the number who are saving, around one in two workers in the private sector only put aside the minimum contribution level. Employers have to put a minimum of 3 per cent of your earnings between £6,240 and £50,270 into your pension, while workers put in 4 per cent and the Government adds 1 per cent in tax relief - adding up to 8 per cent. However, many employers are willing to make 4 per cent, 5 per cent or 6 per cent in matching pension contributions if you opt to save a higher proportion of your income. People aged 22-66 who earn at least £10,000 a year are eligible for auto enrolment. New rules extending auto enrolment to young workers aged 18-21 and to lower earners to let them save from the first pound of earnings were passed into law in 2023, but have not been implemented yet. The Pensions Commission will be made up of Baroness Jeannie Drake, who was a member of the original one, Sir Ian Cheshire and Professor Nick Pearce. Alongside the Commission, the Government has launched a State Pension Age Review, which will draw up two independent reports for the Government to consider. Work and Pensions Secretary Liz Kendall says: 'People deserve to know that they will have a decent income in retirement – with all the security, dignity and freedom that brings. 'But the truth is, that is not the reality facing many people, especially if you're low paid, or self-employed. 'The Pensions Commission laid the groundwork, and now, two decades later, we are reviving it to tackle the barriers that stop too many saving in the first place.' Chancellor Rachel Reeves says: 'We're making pensions work for Britain. 'The Pension Schemes Bill and the creation of pension megafunds mean an average earner could get a £29,000 boost to their pension pots. 'Now we are going further to ensure that people can look forward to a comfortable retirement.' Pensions Minister Torsten Bell says: 'The original Pensions Commission helped get pension saving up and pensioner poverty down. 'But if we carry on as we are, tomorrow's retirees risk being poorer than today's. So we are reviving the Pensions Commission to finish the job and give today's workers secure retirements to look forward to.' Kate Smith, head of pensions at Aegon, says: 'To really move the pension dial, we are calling for the new Pension Commission to make bold, brave and possibly unpalatable recommendations to the Government, such as implementing significant increases to auto-enrolment contributions during the next parliament for those on mid and higher incomes. 'We're pleased the Pension Commission will investigate pension inequalities for key groups such as women, the self-employed and ethnic minorities, which will mean more people will save into a pension. 'Currently too many people are excluded from auto-enrolment as they don't meet the current criteria – they're too young, too old, self-employed or don't earn enough. This includes those with multiple low paid jobs, who are mainly women.' Smith expressed disappointment there was no mention of reforms to auto enrolment - first raised in an overview in 2017 - to reduce the minimum qualifying age from 22 to 18, and to remove the lower salary threshold of £6,240 and calculate contributions from the first pound of earnings. Rachel Vahey, head of public policy at AJ Bell, says: 'After 20 years, the government has breathed new life into the Pensions Commission, reviving it to solve the pension under-saving crisis of those due to retire in the mid-century. 'The Government's own analysis points to a dire need for intervention. While automatic enrolment has created 11 million new pension savers, many are saving the bare minimum. 'The demise of private sector defined benefit pensions and a levelling down of contribution rates by some private pension schemes have meant that, although there are more pension savers in the UK, they are not all saving enough.' Vahey notes the Government has ruled out increasing employer pension contributions in this Parliament, but suggests the Commission looks at measures like higher contribution rates depending on earnings, moving away from the blanket minimum for all eligible workers.
Daily Mail
21-07-2025
- Business
- Daily Mail
New Pensions Commission to tackle widespread under-saving that will make future retiriees poorer
The Government has launched a new Pensions Commission to try to stop future retirees ending up poorer than older people today. It says nearly half of working age adults are saving nothing at all into a pension - despite the success of auto enrolment into work schemes - and nearly 15million people are under-saving for retirement. If nothing changes, retirees in 2050 will be living on £800 a year or 8 per cent less in private pension income than those in retirement now, it predicts. Lower earners, the self-employed and some ethnic minorities are particularly at risk, and there is a stark 48 per cent gender gap in private pension wealth, according to the joint statement by the Treasury and Department for Work and Pensions. The move to revive the first landmark Pensions Commission, which issued a report in 2006 that laid the groundwork for auto enrolment, is intended to devise plans to address these problems. It will explore the 'complex barriers stopping people from saving enough for retirement', and report back in 2027. The Government says: - A woman currently approaching retirement can typically expect a private pension income worth over £5,000 less than that of a man, or just over £100 per week compared to just over £200 a week; - More than three million self-employed people are not saving into a pension; - One in four low earners in the private sector are saving into a pension; - And one in four people from a Pakistani or Bangladeshi background are saving into a pension. It adds that despite the introduction of automatic enrolment boosting the number who are saving, around one in two workers in the private sector only put aside the minimum contribution level. Employers have to put a minimum of 3 per cent of your earnings between £6,240 and £50,270 into your pension, while workers put in 4 per cent and the Government adds 1 per cent in tax relief - adding up to 8 per cent. However, many employers are willing to make 4 per cent, 5 per cent or 6 per cent in matching pension contributions if you opt to save a higher proportion of your income. People aged 22-66 who earn at least £10,000 a year are eligible for auto enrolment. New rules extending auto enrolment to young workers aged 18-21 and to lower earners to let them save from the first pound of earnings were passed into law in 2023, but have not been implemented yet. Work and Pensions Secretary Liz Kendall says: 'People deserve to know that they will have a decent income in retirement – with all the security, dignity and freedom that brings. 'But the truth is, that is not the reality facing many people, especially if you're low paid, or self-employed. 'The Pensions Commission laid the groundwork, and now, two decades later, we are reviving it to tackle the barriers that stop too many saving in the first place.' Chancellor Rachel Reeves says: 'We're making pensions work for Britain. 'The Pension Schemes Bill and the creation of pension megafunds mean an average earner could get a £29,000 boost to their pension pots. 'Now we are going further to ensure that people can look forward to a comfortable retirement.' Pensions Minister Torsten Bell says: 'The original Pensions Commission helped get pension saving up and pensioner poverty down. 'But if we carry on as we are, tomorrow's retirees risk being poorer than today's. So we are reviving the Pensions Commission to finish the job and give today's workers secure retirements to look forward to.'
The Sun
19-07-2025
- Business
- The Sun
Insane Labour's lavish all you can claim benefits buffet for migrants is a recipe for national bankruptcy
IT is the economics of the madhouse – hounding out the people who create all the wealth, while providing an all-you-can-claim benefits buffet for those who contribute nothing. This week — for the first time ever — the Department for Work and Pensions released the immigration status of claimants. 8 8 And, quite frankly, you can understand why the establishment would prefer to keep the mind-boggling statistics secret. Because they make us look like a nation of mugs. For it turns out that a jaw-dropping, scarcely credible, 1.26million foreign nationals are on handouts provided by the British taxpayer. Figures show that 737,799 foreign nationals on Universal Credit are unemployed, while 510,970 are in some form of work yet still receiving benefits. The bill for the British taxpayer? Estimates run from £6billion to £12billion. And the damning revelation comes as the UK is projected to lose 16,500 millionaires in 2025. Labour — the wealth-despising fools — are more than happy to wave goodbye to all those rich bastards. But the top ten per cent of taxpayers contribute over 60 per cent of all income tax receipts. The top one per cent pay an astonishing 29.6 per cent of all income tax. And it is not just millionaires and billionaires who are getting out of the UK. In 2023 alone, 40,000 Brits moved to Dubai, taking their income tax payments with them. And when the wealth generators relocate — they are calling it taxodus — we are all poorer. We are losing the grafters who create the wealth while putting out the welcome mat for more than one million who do nothing but suck hungrily from the teat of that well-milked cash cow, the British taxpayer. This is a recipe for national bankruptcy. We need to start talking about contributive immigration — the principle that, if you come to this country, you bring something more than the need to be looked after by the state. We have been told that immigration is invariably good for our economy. But that is only true of contributive immigration where the newcomers work and pay tax. And we now know that there are more than one million foreign nationals who take more from the country than they contribute. Under the current system, anyone who has been in the UK for five years is eligible for indefinite leave to remain, meaning they have as much right to benefits such as Universal Credit, social housing and free NHS treatment as someone who has paid British taxes all their life. This nation robs British pensioners of their heating allowance while laying on a lavish benefits buffet for the world. That is not sustainable. It is not even sane. We must introduce some common sense to the benefits system, and also start persuading our wealth creators — from the billionaires to the young expats relocating to Dubai — to stay in this country. Let's stop despising the wealth creators and start celebrating them. And while we are at it, start showing some gratitude to all British taxpayers. After all, we are the ones who pay for everything. 8 LABOUR'S ruse to give 16-year-olds the vote is clearly a desperate attempt to rig the next election. But it will benefit the fringe parties – the Greens, Lib Dems and Reform. If Keir Starmer thinks he holds any appeal to teenagers, he is kidding himself. You've bin had Oasis 8 NO Oasis ticket? No problem! At least, not for John Spilsbury, 42, who lacked a ticket for the band's Saturday gig at Manchester's Heaton Park but managed to bunk in by posing as a litter-picker. Transport planner John simply put on his yellow hi-vis vest from work, started picking up rubbish, and wandered into the venue. 'When I saw security guys, I started picking up litter around them, and I walked right through,' John says. 'I didn't expect it to work. It was a surprise it did.' But I bet it never works again. When I was a lad, there was a rumour that you could bunk into the FA Cup Final by going to the greyhound racing at Wembley Stadium on the Friday night before the game (there was greyhound racing at the old Wembley from 1927 to 1998), sleep in Wembley's toilets, then go to the final on Saturday. When we were 15, me and my mate Jimmy Ball tried it. Jimmy and I watched the dogs race at Wembley on Friday night, hid in the bogs when it was over and settled down for a kip, looking forward to tomorrow's FA Cup Final. But Wembley's security guards let their German Shepherds off the lead at midnight. Jimmy and I were sniffed out and then booted out. So expect to see lots of blokes at Oasis gigs wearing high-vis litter-picker jackets with their sky-blue Kangol bucket hats. And watch them all fail to get past security. E-bikes a ride mess 8 ROBERT Powell, the Bafta-nominated lead in Jesus of Nazareth in the Seventies, says he and his wife Barbara Lord (once beautiful Babs in Pan's People on Top of the Pops) are having their lives made a misery by the e-bikes that are piled high on their front doorstep in Highgate, north London. 'We had 100 bikes outside our front door once,' Powell says. 'The entire pavement has been blocked by bikes. You've got two octogenarians here who are danger of being killed.' Our towns and cities are now plagued by the evil e-bike empire that exists beyond the laws that apply to the rest of us. These wretched e-bikes are left in disabled bays, resident parking areas and constantly abandoned on the pavement. The e-bike operators – Lime, Forest and the rest – dump totally absurd numbers of bikes in areas that were never intended for them. These cynical e-bike cowboys do not give a toss about the communities they are wrecking. Robert Powell says he is 'terrified' of having a heart attack as he has been forced to move ten to twelve heavy e-bikes away from his front door every day. Are these e-bikes meant to be oh-so-green? Because to me, they seem like the worst kind of pollution. 8 KING Charles may find it in his loving father's heart to forgive Prince Harry for his despicable behaviour since fleeing the Royal Family. But Prince William? Don't hold your breath. AS is tradition, Jannik Sinner and Iga Swiatek celebrated their respective Wimbledon triumphs with the first dance at the Champions' Dinner on Sunday night. And didn't they look excruciatingly awkward? This self-conscious pair are unlikely to ever be mistaken for Fred Astaire and Ginger Rogers. 'Why do they make them do it?' groaned my wife. Because it's tradition! Just as hardly a soul in these islands will give tennis a thought until the next Wimbledon rolls around in the summer of 2026. We go tennis crazy for two weeks every year, then forget all about it. It's tradition! Sydney and James Bond? She fancies Oscar more 8 SYDNEY SWEENEY is widely reported to be in line for a role as a Bond girl in the next 007 film. I really can't see it myself. Why would Sydney Sweeney, want to be a Bond girl? She is already one of the biggest stars in the world. It would be a step backwards. Can you see Margot Robbie as a Bond girl? Or Zendaya? Me neither. Check out Sweeney in Echo Valley, playing a troubled young soul with a dodgy boyfriend who makes her mum's life hell. She looks a future Academy Award winner. So at 27, Sydney Sweeney is probably not thinking about Bond, James Bond. She is thinking about Oscar, her Oscar.
