All Article articles – Page 575
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ArticleGovernment names guidance guarantee service
The government has today (12 January) revealed that its guidance guarantee service will be called Pension wise. The creation of Pension wise follows measures announced in the 2014 Budget to provide access to free and impartial guidance on how savers can make the most of the new pension freedoms, which ...
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ArticleGemma Parker: Is shared parental leave a good thing?
The flexibility of the new right can benefit both male and female employees. Fathers can take a more prominent role in caring for their children from day one, either alongside the mother or as sole carer, and mothers will have the opportunity for more support at home or will be ...
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ArticlePension reforms increase retirement engagement
The new pension flexibilities, which are due to come into effect in April, are resulting in more people becoming switched on to retirement planning, according to research by the National Employment Savings Trust (Nest).Its Nest insight 2015 report, which surveyed a representative sample of 2,000 workers, found that approximately a ...
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ArticleHalf of employers say their organisation is great place to work
Just under half of employer respondents (465) believe their organisation is a great place to work, although just 31% of employee respondents would agree, according to research by MetLife UK.Its 12th annual UK Employee benefits trends survey, which surveyed 300 employers and 301 employees, also found that 39% of employer ...
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ArticleMale employees unlikely to take shared parental leave
Male employees are unlikely to take advantage of the new shared parental leave legislation because of a fear of being judged, according to research by Ramsdens Solicitors.Its research, which questioned 520 employees, found that a third (33%) of male respondents at micro employers (with 10 employees or less) believe that ...
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ArticleUK retirement savings hit by economic downturn
More than two fifths (41%) of UK employee respondents stopped or reduced their retirement savings during the economic downturn, according to research by HSBC.The bank’s survey of more than 16,000 people globally found that despite signs of recovery, retirement saving has been, and continues to be, significantly impacted by the ...
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ArticleLookers launches employee discounts scheme
Lookers Motor Group has introduced an employee discounts scheme for its more than 5,000 employees. The vehicle marques organisation launched its Nicer Rewards scheme, which is provided by Personal Group, on 12 January 2015.The scheme includes more than 8,000 retail discounts from high street retailers, such as Argos, Asda, Sainsbury’s ...
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ArticlePension freedoms popular with DC savers
The new pension freedoms are popular with employees who have a defined contribution (DC) pension, according to a report published by the Pensions Policy Institute (PPI).Its Supporting DC members with defaults and choices up to, into, and through retirement: qualitative research with those approaching retirement report revealed that two-thirds (66%) ...
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ArticleCity Link staff face non-payment of December pension
City Link will not be able to provide employees with their December pension payments after going into administration on 25 December.The courier’s workforce received defined contribution (DC) pension payments of £1,041 per calendar month, but will not receive the December bill due this month.A spokesman from City Link said: “City ...
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ArticlePensions minister sets out pot follows member change
Pensions minister Steve Webb has confirmed changes to the government’s plans for automatic transfer reforms for its pot follows member project, which will see it initially rolled out on an opt-in basis.This is a short-term rethink of the government’s original long-term plan that relevant pension pots will be automatically transferred ...
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ArticleCenter Parcs incentivises financial education take up
EXCLUSIVE: More than 500 employees attended financial education seminars after Center Parcs introduced an incentive scheme to help boost take up. The leisure resort firm, which has a workforce spread across six sites, encouraged staff to attend by offering the chance to enter a prize draw to win an iPad.The ...
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ArticleCoventry City Council introduces salary sacrifice cars
Coventry City Council has launched a salary sacrifice car scheme for more than 7,700 eligible employees. More than 30 orders were made within the first 10 days of launch.Roadshows around the council’s premises and a website were used to help communicate and promote the scheme, which aims to help reduce ...
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ArticleRamsay Health Care launches salary sacrifice car scheme
Ramsay Health Care UK has launched a salary sacrifice car scheme for 3,000 eligible employees. The provider of independent hospital services in England will offer the scheme to staff working in 36 of its private facilities.It added the scheme to its existing benefits package to assist with attracting new employees, ...
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ArticleLess than half of employers provide at-retirement support
Less than half (45%) of respondents provide staff with support at retirement, according to research by Close Brothers Asset Management.Its study of 218 UK employers also found that the most popular way of supporting employees at retirement is through workplace seminars (26%), while 23% of respondents provide access to information ...
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ArticleManchester Airports prepares for pension flexibilities
Manchester Airports Group has updated its defined contribution (DC) pensions administration to address the ongoing freedom and choice pension reforms. The organisation will now offer member administration and member technology services to engage employees with the new pension changes, which come into force in April 2015.The programme will also include ...
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ArticleEmployers offer flexible working to support ageing workforce
Over a quarter of employers (27%) have introduced flexible-working initiatives to meet the needs of their ageing workforce, according to research by Group Risk Development (Grid).The group risk employer research study, which surveyed 500 UK businesses and 1,000 employees, also found that 19% of employers are modifying roles and 16% ...
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ArticleHow far should employers go in recommending financial advice?
In April 2015, the government will introduce the most radical pension changes in almost 100 years.From the age of 55, all staff will be able to access their entire defined contribution (DC) pension flexibly, whether taking it as a lump sum, buying an annuity, drawing down, or a combination of ...
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ArticleCitizens Advice names guidance delivery sites
The Citizens Advice Bureau has named its first 44 sites that will deliver face-to-face sessions as part of the government’s guidance guarantee, Pension Wise. People will be able to book guidance appointments at any Citizen Advice office but will have to travel to a designated delivery centre for the session ...
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ArticleEmployers yet to take action on pension reforms
Nearly three-quarters (70%) of employer respondents have yet to take ation around the pension reforms that come into force from April 2015, according to research by Jelf Employee Benefits.Its research, which surveyed 250 employers, also found that only 7% of respondents have both reviewed their offering and sent employee communications ...
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70% want to use pension pot as retirement income
The majority of employees approaching retirement want to use their pension pots to deliver a secure guaranteed income, according to research by the International Longevity Centre.Its Making the system fit for purpose report, which surveyed 5,000 people aged 55 to 70, found that 70% of respondents with a defined contribution ...