SUMMARY / RELATED TOPICS

Line 6 (Shanghai Metro)

Line 6 is an eastern north-south line of the Shanghai Metro network. The entire line is located in the Pudong New Area. A complete trip between the two end terminals, Gangcheng Road and Oriental Sports Center takes 1 hour and 10 minutes; the line is colored magenta on system maps. Gangcheng Road — Oriental Sports Center Jufeng RoadGaoqing Road Line 6 opened on December 29, 2007; the trains, with 4 carriages each, are manufactured by Shanghai Alstom. Like the Lexington Avenue Subway in New York City, passenger traffic has exceeded the designed capacity of the line since its opening and causes severe strain to the services; the line was built to accommodate light metro narrow-bodied "C size" trains, not interchangeable with wide-body "A size" trains on other Shanghai Metro lines. This difference in loading gauge has made it impractical to upgrade the line to higher capacity "A size" trains to relieve demand. Line 6 was forecasted to carry 105,000 people/day; however within the first few days of operation the line has exceeded 150,000 people/day.

Realizing the sheer miscalculation during construction, the municipal government have pledged to add new trains and shorten wait times starting in June 2008. However, Line 6 still suffers severe crowding and delays during rush hours; the busiest section of the line is running at 133% capacity. With the opening of Line 12 the Shanghai Metro advises passengers divert to the new line to relieve crowding. Century Avenue is an interchange among Lines 2, 4, 6 and 9. Lancun Road is an interchange between Lines 4 and 6. West Gaoke Road is an interchange between Lines 6 and 7. Oriental Sports Center, the final station of Line 6, opened in April 2011, it is an interchange among Lines 6, 8 and 11. Jufeng Road is an interchange between Lines 6 and 12. Dongming Road is an interchange between Lines 6 and 13. Gangcheng Road, the other terminal station of Line 6, will be an interchange between Lines 6 and 10. Yunshan Road will be an interchange between Lines 6 and 14

National Employment Savings Trust

The National Employment Savings Trust is a defined contribution workplace pension scheme in the United Kingdom. It was set up to facilitate automatic enrolment as part of the government's workplace pension reforms under the Pensions Act 2008. Due to its public service obligation, any UK employer can use NEST to meet its new workplace duties as set out in the Pensions Act 2008; the Pensions Act 2008 established new duties which stated that employers need to provide their UK workers with access to a workplace pension plan that meets certain minimum standards. Some workers will be automatically enrolled into the pension plan and others can ask to join; the former is called'automatic enrolment'. These reforms affect the majority of UK employers and are intended to help up to 11 million more people save for retirement. National Employment Savings Trust is one of the qualifying pension schemes that employers can use to meet their new duties, it was set up as part of the government's workplace pension reforms.

NEST is a trust-based defined contribution pension scheme, run by a Trustee on a not-for-profit basis. In April 2014 NEST Corporation announced. NEST is free for employers to use. Members pay a 0.3 % annual management charge on their total pot. Together, the charges are broadly equivalent to a 0.5% AMC for most types of saver. In March 2014 the government announced it plans to apply a charge cap of 0.75% of funds under management on default funds of DC qualifying pension schemes from April 2015. The National Employment Savings Trust has an annual contribution limit, it is reviewed annually and is £4,900 for the 2016/17 tax year. It has restrictions on transfers in and out of the scheme. In July 2013, The Department for Work and Pensions announced that it planned to legislate to lift the restrictions on NEST from April 2017 and indicated that the restrictions on individual transfers may be lifted earlier when the'pot follows member' arrangements in the Pensions Bill 2013/2014 are introduced. Members who are automatically enrolled into NEST are put into a NEST Retirement Date Fund.

The NEST Retirement Date Funds are managed according to the life stage of members in them. Members can change funds at any time after enrolment. NEST has a small number of other fund choices, including a Sharia Fund and Ethical Fund. Proposed by the Labour Government in a May 2006 white paper; the creation of NEST—originally known as "Personal Accounts", was one of the recommendations of The Second Report of the Pensions Commission – A New Pensions Settlement for the Twenty-First Century under the chairmanship of Adair Turner. The Pensions Act 2007 established a transitional body, the Personal Accounts Delivery Authority to advise on the implementation and launch of Personal Accounts. PADA consulted on various aspects of the final scheme before passing these responsibilities to NEST Corporation, the trustee of NEST; the current Chair of NEST Corporation is Otto Thoresen. NEST Corporation's chief executive is Helen Dean. Minimum employer contribution Pensions in the United Kingdom Canada Pension Plan Pensions in the United States UK labour law Basic state pension KiwiSaver The People's Pension http://www.dwp.gov.uk/docs/pensionsbillimpactassessment-final2.pdf – this is the impact assessment released in December 2007 for the Pension Bill 2008.

It provides a complete appraisal of the reforms. There are fact sheets on reactions from individuals and employers which have implications for the UK pension industry. Http://research.dwp.gov.uk/asd/asd5/rports2009-2010/rrep558.pdf – Research document 4 http://www.ifs.org.uk/publications/4386 – IFS PowerPoint presentation discussing the adequacy of these reforms http://www.ifs.org.uk/pr/personal_accounts.pdf – IFS press release http://news.bbc.co.uk/1/hi/business/8101097.stm – BBC – Personal account benefit'small' http://www.retirementmadesimpler.org/Library/The%20Power%20of%20Suggestion-%20Inertia%20in%20401.pdf – THE POWER OF SUGGESTION: INERTIA IN 401PARTICIPATION AND SAVINGS BEHAVIOR* – Brigitte C. Madrian AND DENNIS F. SHEA NEST Corporation official website – UK Government website Explanation of known NEST defect with postal addressing Pensions Policy Institute – publishing independent non-political research into UK pensions policy. Association of Member-Directed Pension Schemes – The principal body for discussing changes involving self-administered pension schemes Aon Hewitt United Kingdom – Definition of Auto Enrollment The People's Pension – Article on the alternatives to NEST Guardian Wealth Management – Workplace pension schemes are to be investigated by the Office of Fair Trading