case studies – Page 3
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Case StudiesThe benefits offered by Aster Group
The benefits on offer at Aster Group: Pension and financial wellbeingThe Social Housing Pension Scheme (SHPS) master trust, available for all employees with auto-enrolment contribution levels of 4% employee and 4% employer.Financial webinars.Pension one-to-ones, employer-paid.Retirement modeller.Healthcare and wellbeingHealth cash plans with Simply Health for all employees, employer-funded at level one, ...
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Case StudiesMorgan Sindall adds ESG funds to pension scheme following staff survey
Morgan Sindall retirement savings plan is a trust-based arrangement with around 5,000 members. In 2019, the employer surveyed its member’s views on responsible investment, looking at the importance of this both in their day-to-day lives and with regards to their retirement savings. Almost a third (30%) of members responded, and ...
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Case StudiesCarter Jonas engages staff with pensions through regular communication
The Carter Jonas pension and investment plan was established with Hargreaves Lansdown in 2014. There are currently 686 members. The default fund is the Schroder Managed Balanced fund, but engagement is good and 22% select their investments.Claire Matthews, head of human resources, says: “Hargreaves Lansdown has worked closely with our ...
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Case StudiesNationwide overhauls at-retirement support during Covid-19 pandemic
Nationwide Building Society offers a group personal pension, provided by Aviva, with around 14,000 members, and a defined benefit (DB) scheme with around 5,000 active members that will close to future accrual on 31 March 2021.Amanda Innes, pensions communications manager, employee pensions, at Nationwide, says: “We’ve worked closely with our ...
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Case StudiesIpsos Mori ensures employee wellbeing ranks high on the agenda
At Ipsos Mori, employees are at the centre of everything the organisation does, and it follows that any benefits that are introduced serve the purpose of meeting employees’ needs. This approach means the market research organisation has made a number of changes to its reward stategy in order to support ...
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Case StudiesThe benefits offered by Fujitsu UK and Ireland
The benefits offered by Fujitsu UK and Ireland:PensionsA master trust pension scheme for all employees. Double matched employer contributions, for example if an employee pays 3%, the employer pays 6%, with employer contributions are capped at 10%. Contributions can be changed on a monthly basis.Healthcare and group riskGroup income protection ...
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Case StudiesFujitsu responds to Covid-19 pandemic with a focus on employees’ physical and mental wellbeing
At Fujitsu, employees’ wellbeing and safety has always been a high priority. The Covid-19 (Coronavirus) pandemic placed this even more under the spotlight.Paula Evans, head of pensions and benefits, UK and Northern Ireland, explains how the organisation’s thinking behind its benefits strategy seeks to support this: “[The philosophy] is really ...
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Case StudiesFord seeks to address pay and pension gender inequalities through recruitment and retention policies
Ford Motor Company’s gender pay gap report reads differently to that of most employers. The organisation, which employs over 13,000 people in the UK, has a negative pay gap, in other words, women earn more than men on average. But the overall picture is much more nuanced than the headline ...
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Case StudiesSiemens uses pensions education to increase contribution levels
Global technology organisation Siemens launched a pensions education strategy for its 15,000 employees in January 2019 to increase the number of staff that contributed to their pension savings.Siemens found that, under its money purchase defined contribution (DC) pension scheme, 83% of its employees were predicted not to reach the Department ...
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Case StudiesNatwest Group's benefits agenda reflects its strategy of championing people potential
When Alison Rose was appointed the chief executive of Natwest Group in November 2019, she put forward her purpose-led strategy for the banking group: to champion the potential of people, families and businesses.It is this strategy that has been driving the reward and benefits agenda at the organisation. Sharon Midwinter, ...
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Case Studies
Infographic: Total reward during the Covid-19 pandemic
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Case StudiesZurich UK supports employees' financial wellbeing with education platforms
Insurer Zurich UK uses a number of financial education measures to support its 4,500 employees, and has promoted their use during the Covid-19 (Coronavirus) pandemic to help employees better understand their financial situations and options available to them.Zurich began working with Lifeworks in October 2019 in order to give employees ...
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Case StudiesBNP Paribas' pension scheme manages risk through employee communication
The BNP Paribas pension scheme is a mastertrust set up in 2014, formed from legacy schemes that date back to 1987. It has over 20,000 members, of whom 8,000 are active.Ten UK BNP Paribas companies participate, with varying contribution levels. The organisation operates a pensions committee to manage the scheme’s ...
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Case StudiesTrowers and Hamlins offers employees above minimum pension provision
International law firm Trowers and Hamlins is typical of progressive firms that try to do a bit more than the minimum required by law when it comes to staff pensions.Some 700 of its 800 UK-based employees, as well as a number of the firm's partners, are members of the Trowers ...
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Case StudiesCo-op transfers employees to a more flexible defined contribution scheme
In October 2015, food and retail business Co-op closed its defined benefit (DB) pensions arrangement and transferred employees out to a defined contribution (DC) group personal pension (GPP) scheme.During the change, the existing £8 billion DB scheme stayed as was, with all existing accruals retained. In terms of future pension ...
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Case StudiesFord uses data to analyse the value of pension contributions across the globe
Image credit: r.classenInternational automotive manufacturer Ford spends approximately $1 billion (£772,195,000) per year on pensions for its employees, spanning 36 countries and more than 120 different schemes. In the UK alone, 10,000 members of staff are enrolled in either defined contribution (DC) or defined benefit (DB) arrangements.Quantifying the value of ...
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Case StudiesNorth of England P&I Association engages staff with options during pensions change
When the North of England P&I Association (Nepia) moved from one group personal pension (GPP) plan to another in 2018, following an internal restructure, employees were supported with information and education on how to transfer to the new scheme and consolidate any other pensions they might have from previous jobs.The ...
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Case StudiesStelrad’s default investment strategy helps employees manage retirement expectations
The Stelrad group personal pension (GPP) plan was set up with Standard Life in September 2014, following the sale of a related company, Ideal Boilers. It has 125 members in total, of whom 108 are long-serving, active members and 17 are deferred.The scheme, which is closed to new members, runs ...
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Case StudiesUniversity of Lincoln uses targeted communications to position pensions
With about 2,000 employees enrolled across six pension schemes, the University of Lincoln faces a considerable challenge when it comes to reaching its entire workforce, let alone effectively engaging staff with pensions.To position retirement savings as a key element of the employee journey and the overall reward package, the university ...
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Case StudiesPolice Scotland harmonises pay and benefits for 6,000 staff
Three years ago, national police force Police Scotland embarked on a project to harmonise its employee benefits, as well as its employment terms and conditions, for its 6,000 non-officer staff.Known internally as the Staff Pay and Reward Modernisation Programme (SPRM), the project aimed to introduce equality and fairness to the ...