The UK’s £3.8bn (€4.4bn) National Employment Savings Trust (NEST) has launched a trial of a savings product to sit alongside its auto-enrolment pension fund service.At an event last night in London, the pension provider – set up by the UK government to lead the establishment of auto-enrolment into pension funds – announced it was testing a “sidecar” savings product with one of its clients.Guy Opperman, pensions and financial inclusion minister, described the trial as a “ground-breaking project” that “has the full support of the Department for Work and Pensions and the Treasury”.The minister also called for the financial services groups supporting the launch to get their staff involved in the trial. Timpsons, a high street chain of shops specialising in shoe repairs, will be the first employer to trial the savings account. It will roll out the service across its 5,600-strong workforce from the start of next year.Opperman told attendees at the launch event: “I can’t be financial inclusion minister without pointing out the opportunity to ensure your staff are signed on for something like this…“If you’re not motivated to support this, I question why you’re here. This really matters.”How it works Timpsons will be the first employer to trial the ‘sidecar’ savings conceptDesigned to improve “financial resilience”, the service will involve individual employees saving into what NEST has dubbed “jars”, with any pension contributions above the auto-enrolment minimum (currently 8% of salary) diverted into the savings account.This account is subject to a cap, set at £1,000 for the trial. Once the cap is hit, all contributions will go to the pension fund.Investors will be able to access the savings account – NEST’s research explored the application of barriers to accessing this account, but it has not implemented any formal restrictions. A spokeswoman for NEST said the account would be labelled “for emergencies”, as studies had shown that this kind of framing could influence how people used the money.Once the savings account falls back below the cap, contributions will automatically split again to pay into both accounts, until the savings account hits its limit again.Caroline Rookes, a trustee at NEST and chief executive of the UK’s Money Advice Service (MAS), said roughly a quarter of the UK population had no savings, and giving them the ability to save “absolutely transforms people’s lives”.Michael Royce, strategic lead on budgeting and saving at MAS, added: “We hope that [the trial] builds on emerging evidence that workplace savings initiatives can be an effective means of helping people enhance their financial resilience throughout their working lives both for the short-to-medium term and for when they move into retirement.”The model was developed by NEST and backed by research from the Harvard Kennedy School in the US.JP Morgan Chase’s charitable foundation and MAS are providing financial resources for the trial, while Salary Finance will provide the savings accounts.
Former Cardinals kicker Phil Dawson retires Grace expects Greinke trade to have emotional impact On the first possession, quarterback Blaine Gabbert—since benched in favor of Drew Stanton—threw an interception, and then on the second possession, he threw three straight incompletions before Phil Dawson kicked a 19-yard field goal.“I kick myself all the time, we score one touchdown we probably win that game,” Goodwin said. “It’s amazing because getting the ball down there hasn’t been the problem. It’s just been putting it in. To win in this league, you got to be good on third down and you got to be good in the red zone. We got to pick it up.”May be time for Elijhaa PennyFor the second straight day, running back Kerwynn Williams (quadricep/ribs) did not practice.If Williams is unable to go on Sunday, then the Cardinals may be looking at their fifth different starting running back. And it could be Elijhaa Penny, who has rushed for 56 of his 61 yards this season in the last two games.“He’s a hell of a back. He’s got a lot of upside,” Goodwin said. “He’s got a heavy head. I like him. I really do. He works hard and he does a good job on special teams.”Wait. Penny has a heavy head?“Heavy head,” Goodwin repeated. “He’s going to try to run over you. He’s thick-headed. He’s going to try to run over you.” Peterson isn’t wrong.The Cardinals entered Week 10 with the NFL’s 24th-ranked defense, allowing 349.8 total yards per game. Now, heading into this week’s matchup with the New York Giants, the Cardinals rank No. 7 (313.3) and are near the top in several other categories, including net yards per game and yards per play over the last five games.“We can be the first team to ever go top-5 defense three years straight,” Peterson said. “We know what we’re out there playing for right now. We’re just trying to finish strong.”Red zone offense Now while the defense has shown improvement, the offense has regressed, especially inside the red zone.The Cardinals have not scored a touchdown on any of their last nine trips inside their opponent’s 20-yard line, including six missed opportunities at Washington.“It’s simple execution,” offensive coordinator Harold Goodwin said, specifically mentioning overthrown passes and poor protection upfront. “There are plays there to be made. There are little things like that we got to do a better job with, but the plays are there we just got to execute.”Twice last week the Cardinals had the ball 1st-and-goal and failed to cross the goal line. The question is why and why now. The answer is two-fold, according to defensive coordinator James Bettcher.On Thursday, Bettcher cited the character in the room — the players believe in each other — and scheme, adding players have bought in to what is being coached.“Our guys understand that it’s not what you do, it’s how you do what you do. And I think anybody in the National Football League, that is such an important factor in believing in your process and believing that it’s now what you do, it’s how you do what you do that leads to success and leads to you getting through some obstacles,” he said.“We’ve had opportunities early in the season with certain plays here and there that right now we’re making those plays and that’s a testament to our the guys believing and staying with the process.”Cornerback Patrick Peterson pointed to the defense’s play post-bye week for the start of the upward trend.“The numbers really, really started to show the growth that we had as a defense because you got to think about, at the beginning of the year we had at least six new faces and once everybody start to understand the terminology, understand how things work in this defense, I mean, we started playing lights out,” he said. Top Stories Arizona Cardinals outside linebacker Chandler Jones (55) celebrates his sack against the Jacksonville Jaguars with defensive end Frostee Rucker (92) during the first half of an NFL football game, Sunday, Nov. 26, 2017, in Glendale, Ariz. (AP Photo/Ross D. Franklin)