case studies
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Case StudiesWolseley Group moves to master trust following pension scheme review
Source: Wolseley Group The Wolseley Group moved its pension to a master trust arrangement following a review of its £230 million defined contribution (DC) scheme. The group, which specialises in plumbing, heating, cooling and infrastructure, has more than 13,000 members in its pension. The organisation switched from ...
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Case StudiesHSB uses pension committee and resources to boost investment confidence
Specialist insurance and inspection business HSB improves employees’ confidence in investment choices through an approach centred around its pension governance committee and providing resources to staff.The organisation has a workforce of 550 UK and Ireland employees. Its committee comprises four appointed members, including external pension advisors and a representative from ...
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Case StudiesNewcastle Building Society increases staff awareness of how to trace small pension pots
When Ben Thomas joined Newcastle Building Society as head of reward in 2023, one of his first priorities was to benchmark how the organisation performed against competitors.Central to this was its pension scheme. “We offered a competitive pension that was above the market median but a majority of colleagues weren’t ...
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Case StudiesAWE promotes pension understanding as part of a whole-life savings approach
Since 2017, nuclear security technologies organisation AWE has worked to help its more than 7,000 employees on a journey towards embedding a whole-life savings approach.Working with Nudge, the employer's approach encompasses offering a range of financial education and planning tools around retirement, budgeting, and investment, and tools such as mortgage ...
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Case StudiesHowdens provides staff with valuable retirement-planning tools
Following a review of its pension scheme and a consultation in 2020, kitchen furniture manufacturer Howdens chose to close its defined benefit (DB) scheme in 2021. Alongside this, it improved its offer to employees through the defined contribution (DC) scheme, including increasing the core employer contributions significantly and introducing additional ...
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Case StudiesHow SSE engages employees to increase pension contributions
Scottish energy multinational SSE was one of the first employers to become accredited by the living pension scheme in 2023. The Living Pension savings target is 12% of a full-time living Wage worker’s salary, of which the employer pays at least 7%. With SSE contributions averaging 16%, it is clear ...
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Case StudiesHays addresses the gender pensions gap
Passionate about financial wellbeing, global recruitment firm Hays provides employees with back-to-basics roadshows and webinars to explain pensions terminology in a more straightforward way in order to combat the gender pensions gap.It has offices in 33 countries and 13,000 employees across the world. Of these, 3,500 are based in the ...
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Case StudiesBT boosts employees' pension knowledge with financial education programme
For the last 11 years, BT has rolled out a programme of financial education for its employees to help them plan for retirement. So far, it has been delivered to approximately 80,000 of its UK employees.Kerry Shiels, pension and benefits director at BT, says: “It is very important that employees ...
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Case StudiesKingfisher provides benefits security through bulk annuity purchase
Credit: ClimbWhenReady / ShutterstockIn the UK, home improvement firm Kingfisher's pension provision comprises a closed final salary section, with 28,000 deferred and pensioner members, and an open money purchase section, with 70,000 active and deferred members.The firm, which includes brands such as B&Q, Castorama, Brico Dépôt, Screwfix, TradePoint and Koçta?, ...
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Case StudiesBenefits on offer at Precis Digital
Benefits offered by Precis Digital:Pension A group personal pension (GPP) scheme for all employees, with up to 8% matching contributions from the employer.Healthcare and wellbeingA £40 wellness allowance each month, which can be used towards items such as physical exercise, therapy apps and private medical insurance.Employee assistance programme (EAP).Access to ...
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Case StudiesRoadshows were secret to success when Ford moved to pensions master trust
When Ford Motor Company moved to a master trust in April 2022, explaining the changes to people at pensions roadshows was a priority.Oliver Payne, international pensions and data analytics manager at Ford and founder of the Reinventing Pensions event, explains: “The reason for that is you get people’s focused attention. ...
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Case StudiesHerbert Smith Freehills supports employees’ future with living pension
When law firm Herbert Smith Freehills was approached about taking part in the living pension pilot, it was keen to support what it saw as a vital initiative not just for its own employees, but for society in general.Operating from 25 offices across the Asia Pacific, Europe, Middle East and ...
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Case StudiesThe benefits offered by XDesign
Benefits on offer at XDesign:Pension and group riskGroup personal pension (GPP) plan with salary sacrifice arrangement for all employees. Employer and employee contributions of 4%, matched up to 5%.Life insurance.Critical illness leave at full pay for the first six months, and half pay for the following six to nine months.Healthcare ...
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Case StudiesFlaunt Digital raises awareness of retirement planning through pensions communication
Pensions are not usually at the forefront of the minds of young employees, yet early engagement with the subject could make accruing sufficient retirement funds much more likely.Digital marketing firm Flaunt Digital provides pensions education and information for its 30-strong workforce whose average age is 30. The Leeds-based firm recently ...
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Case StudiesDeloitte gives staff control with flexible pension policy
In October 2022, professional services firm Deloitte introduced a flexible pension policy that gave its 22,000 UK employees more control over their finances, while still centring the importance of retirement savings.The policy allows staff to receive a cash payment in place of their pension contributions, in order to help people ...
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Case StudiesIngenuity starts with the basics of pension scheme investment communication
When it comes to communicating to employees about pension scheme investing, Gary Douglas, finance director of new business agency Ingenuity, is of the firm belief that you must get the basics right first.Ingenuity, which employs just under 80 people, has historically had quite a young staff body. Accordingly, pensions were ...
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Case StudiesSiemens encourages young staff to start building up pension contributions
Global technology organisation Siemens, which employs approximately 7,000 employes in the UK, believes it is important for its younger employees to understand that pension saving is most effective when they start early on. This gives them more time to build up contributions and investment returns, and make the most of ...
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Case StudiesMaterial Impact ensures pension investment plan aligns with sustainability ethos
Material Impact is a marketing and PR firm based in London, whose experience includes 61 clients in five continents, ranging from JP Morgan and $130 billion fund administrator Crestbridge to the Institute of Neurodiversity and Imperial College Business School. Established in January last year, it has eight members of staff, ...
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Case StudiesEasyfundraising highlights the importance of pension saving to staff
Charity website Easyfundraising, which employs 85 staff, recently switched from its group personal pension (GPP) scheme to a salary sacrifice arrangement, primarily to negate the increase in national insurance (NI) in April 2022.Janna Bates, head of HR at Easyfundraising, says: “The same amount of money is going into the pension ...
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Case StudiesUniversity of Lincoln pension communications tap into student mindset
The University of Lincoln has more than 2,000 employees, a large proportion of which are students, presenting unique challenges when it comes to addressing current financial wellbeing as well as pension savings.Many of these student employees sit below the minimum threshold for auto-enrolment, while even those who are eligible have ...