case studies – Page 4
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Case StudiesThe benefits offered by Police Scotland
The benefits offered by Police Scotland:PensionsThe Local Government Pension Scheme, a career average revalued earning (Care) scheme, is available for all staff; employee contributions vary dependent on salary and Police Scotland contributes around 19% of an employee’s salary.PayOvertime pay of time and a half, and double time for working on ...
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Case StudiesDWF engages employees with pensions through enhanced matched contributions
Legal services firm DWF employs around 2,300 staff across 11 offices throughout the UK and Ireland. In April 2019, it launched a new self-invested personal pension (Sipp) plan, to encourage employees to engage more with their retirement savings.Stephen Jones, head of reward at DWF, says: “We’d offered matched contributions based ...
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Case StudiesNationwide demonstrates the role of workplace pensions within wider package
To engage its 18,500 employees with their retirement savings, Nationwide Building Society provides a dashboard through which staff can view all of their pension information in one place, uses nudges to promote behavioural change, and runs competitions during which, for example, employees can design posters illustrating their personal retirement dreams.Currently, ...
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Case StudiesJohnson Matthey uses intuitive technology to make pensions personal
Johnson Matthey is a multinational specialty chemicals and sustainable technologies business, employing 4,300 people in the UK across 14 sites. Our workforce is very diverse, ranging from production workers to scientists.Our pension scheme has a complex benefit structure, offering members different retirement savings options, encompassing career average revalued earnings, closed ...
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Case StudiesSomerfield Pension Scheme insured £425 million of liabilities through buy-in
Manchester-based Somerfield Pension Scheme, sponsored by the Co-op, insured £425 million of liabilities through a buy-in with Pension Insurance Corporation (PIC) in January 2019. It covered 2,900 people, the scheme’s entire pensioner population excluding those with very small pensions.James Giles, pensions investment manager at Co-op, says: “One of the first ...
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Case StudiesThe benefits offered by Charles Tyrwhitt
The benefits offered by Charles Tyrwhitt:Pension and protection benefitsDefined contribution (DC) workplace pension scheme for all employees, offering enhanced matching employer contributions of 6% for managers and above.Group income protection offered to all staff on an employer-paid basis.Health and wellbeingPrivate medical insurance (PMI) provided on an employer-paid basis; this includes ...
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Case StudiesACCA engages employees with retirement planning using tailored roadshow
Global professional accountancy body The Association of Chartered Certified Accountants (ACCA) has engaged its employees with retirement planning through a pensions roadshow that addressed their changing needs as they approach retirement.The roadshow, which was offered to all 850 ACCA UK employees, took place across its offices in September 2019, and ...
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Case StudiesAMV uses financial advice to boost pensions understanding and financial wellbeing
In 2007, Advertising agency Abbott Mead Vickers BBDO (AMV) started working closely with benefits broker Connor Broadley to offer education around pensions and other financial matters, using staff surveys to discover what topics employees would be interested in learning about.Since then, employees have been able to book appointments with representatives ...
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Case StudiesHachette uses workplace event to engage younger staff with pension contributions
On 28 November 2018, London-based publisher Hachette undertook a workplace event aimed at getting the 930 employees in its Victoria Embankment office enthused about their pensions. This is particularly important as, with a workforce predominantly aged between 25 and 40, it can be difficult to engage staff with a topic ...
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Case StudiesAnglian Water provides for financial wellbeing across varied life stages
Utilities organisation Anglian Water has approximately 5,000 employees in the UK, half of whom are based across its main office locations, with the remaining half working operationally around the country.With such a varied workforce demographic, which also spans numerous generations, it is important that the organisation’s financial wellbeing support can ...
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Case StudiesThe benefits offered by The Grand Brighton
The benefits offered by The Grand Brighton:PensionsA master trust pension scheme for auto-enrolment purposes, provided by The People's Pension, which follows the minimum statutory contribution rates. There are currently 240 eligible employees within this scheme, because some staff work flexibly or are too young to be eligible.Managers and supervisors are ...
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Case StudiesThe Grand Brighton reinvigorated benefits package upon becoming independent
Luxury seafront hotel The Grand Brighton reinvigorated the benefits and reward package offered to its 300 employees, to align with new corporate values developed when it became an independent entity in January 2018.This change in status empowered its HR and benefits team to revamp its reward offering and set a ...
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Case StudiesThe benefits offered by TGI Friday’s
The benefits offered by TGI Friday’s:PensionsA defined contribution (DC) pension scheme via the National Employment Savings Trust (Nest): staff save 5% of their salary and TGI Friday’s contributes 3%.Managers and directors of operations can opt to save into a group personal pension (GPP), provided by Standard Life, which enables them ...
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Case StudiesRoyal Mail seeks pensions equality from collective defined contribution scheme
Royal Mail can lay claim to designing a consistent and fair pension scheme in its novel collective defined contributions (CDC) scheme. The scheme is not yet in force, but enabling legislation in Parliamentary under-secretary of state at the Department for Work and Pensions Guy Opperman's Pensions Bill is expected in ...
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Case StudiesThe benefits offered by CGI UK
The benefits offered by CGI UK:Pensions, pay and group riskA contract-based group personal pension (GPP), defined contribution (DC) scheme is used for auto-enrolment when employees reach two months of service. Minimum contributions are 9%, with at least 3% contributed by employees and 6% provided by CGI UK. This increases depending ...
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Case StudiesThe benefits offered by Inspired Villages
The benefits offered by Inspired Villages:Pension, protection and payA defined contribution (DC) pension scheme is available for all staff through auto-enrolment; contributions are set at the statutory minimum of a monthly 5% from employees and 3% from the employer.Life insurance, at three times an employee’s base salary, is available on ...
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Case StudiesNationwide uses technology to engage employees with pension scheme
According to Amanda Innes, pensions communications manager at Nationwide, the introduction of a pensions dashboard can only be a good thing: “By having all their information under one roof, employees will be able to see at a glance what they’re in line to get, instead of just guessing."Nationwide has, in ...
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Case StudiesThe benefits offered by Royal Mail
The benefits offered by Royal Mail:Pensions, pay and group riskRoyal Mail's defined benefit (DB) pension scheme was closed to new members in March 2008 and new employees are provided with a defined contribution (DC) pension. The DB arrangement closed to future accrual in March 2018; members of this scheme have ...
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Case StudiesThe benefits offered by The Phoenix Group
The benefits offered by The Phoenix Group, excluding Standard Life Assurance:Pension and protectionFor auto-enrolment purposes, The Phoenix Group provides a defined contribution (DC) pension scheme, matching employee contributions up to 5%. From April 2019, employees contribute a minimum of 2% of their base salary and the organisation contributes 5%, in ...
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Case StudiesSiemens changes pension structure ahead of 2019’s auto-enrolment increases
Ahead of the auto-enrolment minimum contribution changes in April 2019, global technology organisation Siemens amended its defined contribution (DC) structure with a view to creating behavioural change.Siemens, which employs 15,000 staff in the UK overall, 11,000 of whom are enrolled in the pension scheme, now offers enhanced matching contributions based ...