case studies – Page 7
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Case StudiesTravis Perkins unifies its benefits offering
Travis Perkins, which employs approximately 30,000 people across the UK, operates according to its five core values, known as cornerstones: upholding family values, keeping people safe, working for its customers, being the best, and making decent returns. The latter does not merely refer to financial returns, but also to the ...
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Case StudiesSAS offers benefits to reflect lifestyle, not generation
With some 700 employees in the UK, software organisation SAS already has a five-generation workforce.Chris Carter, head of reward, says: “The multi-generational issue is really coming to life now. It is becoming more and more relevant as we talk about how we look at, design and use benefits.“SAS is quite ...
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Case StudiesScottish Power introduces tool to help staff understand retirement outcomes
Energy firm Scottish Power has two defined benefit pension schemes, with some 4,000 members but, since 2006, has required all new employees to join a defined contribution (DC) stakeholder pension, provided by Fidelity. This currently has around 2,500 members.In February, the organisation introduced a new tool, called Guided Outcomes, provided ...
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Case StudiesBMT Group offers employees automated pensions advice
Having moved from a defined benefit (DB) to a defined contribution (DC) scheme in 2011, maritime engineering business BMT Group wanted to ensure its 780 UK employees were able to develop a sound retirement strategy.The business initially considered bringing in a financial adviser but was introduced to the concept of ...
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Case StudiesKnight Harwood embraces auto-escalation
Construction firm Knight Harwood’s group personal pension scheme started with a contribution basis of 3% and 3% and introduced the concept of auto-escalation, through what it calls the Pension Increase Pledge (Pip). This gives members the option to commit to increase their pension savings by 1% each year for a ...
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Case StudiesUniversity of Lincoln offers tailored financial education to staff
The combination of pensions freedoms, reforms to the Universities’ Superannuation Scheme (USS) and The Teachers’ Pension, relatively low pay awards in recent years and the fact more academic staff now work on a sessional or contract basis means there is a huge education piece to be had around finance and ...
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Case StudiesNationwide uses communications to increase staff pension contributions
The Nationwide group personal pension (GPP), established in 2007, has over 11,000 members. From September 2015, the building society raised its standard contribution rate to the pension scheme from 9% to 13% and has also undertaken to match employees’ additional contributions up to 3%. The minimum employee contribution rate remains ...
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Case StudiesMartin Currie offers greater savings flexibility with new platform
Offering employees greater flexibility around how they save and broader access to the fund market were the key reasons behind investment management firm Martin Currie’s decision to introduce a workplace savings platform in 2013.Craig Gibson, head of reward, explains: “We offer all our employees membership of our self-invested personal pension ...
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Case StudiesBoots prepares for pensions auto-re-enrolment
Boots, a member of Walgreens Boots Alliance, is facing its first cyclical re-enrolment in January 2016 and has identified around 2,000 staff that must be assessed and potentially automatically re-enrolled.The Alliance Healthcare and Boots Retirement Savings Plan (AHBRSP), a group personal pension scheme, was established in 2010 with Legal and ...
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Case StudiesCancer Research UK diversifies default fund
Cancer Research UK (CRUK) replaced its equity-based default investment fund with a more diversified, less traditional option following the introduction of April’s pension flexibilities. Since then, of CRUK’s 800 staff, and those who left its defined benefit (DB) pension scheme when this was closed to future accrual on 31 March ...
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Case StudiesPeel Ports Group puts staff at heart of reward strategy
The organisation is currently creating a deep-water terminal for containers, Liverpool 2, which will result in an expanded workforce. An additional 480 roles will be created, along with around 5,000 additional supply jobs in the north west of England.Due to open at the end of 2015, Liverpool 2 is a ...
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Case StudiesWelcome Break plans for smooth pensions re-enrolment
The motorway service operator began planning for its initial auto-enrolment six months prior to its staging date in June 2013, and found that by working with advisory service Aspira it was able to ensure a relatively smooth operation once the first contributions were made.Welcome Break operates two pension schemes for ...
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Case StudiesTelent engages staff with pensions via default investment strategy
Since it was introduced in April 2013, its contract-based defined contribution (DC) scheme has achieved 95% take-up. Telent closed its defined benefit (DB) pension to new members in 2007 and to future accrual in 2012.Telent closed its defined benefit (DB) pension to new members in 2007 and to future accrual ...
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Case StudiesPeel Ports Group creates own governance committee
The committee holds quarterly meetings that include input from its pension scheme provider Aegon, as well as its consultancy Aon Hewitt.There are regular items on the agenda that include ensuring the scheme is run effectively, investment management, administration and scheme performance.It measures all elements of good governance against a score ...
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Case StudiesHeineken's default funds will need to change after Budget reforms
Neil Parfrey, head of pensions , says the scheme’s governance committee is currently re-examining its default funds after Chancellor George Osborne’s Budget changes liberalising how members can take their pension pots.“If some of our members are trying to target cash at retirement, then the investment strategy required will be different ...
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Case StudiesBristol Myers Squibb educates staff about pension reforms
It has informed staff about the changes following the closure of its defined benefit (DB) scheme in 2012 and the introduction of a group personal pension plan .The employer has also launched an online retirement planning tool, provided by Aspire to Retire, which is available to employees who are five ...
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Case StudiesTowry looks to effective providers for benefits
Higginson has learned this the hard way, having endured a bad experience with a pensions provider handling the transition to auto-enrolment.“It told us they had this fantastic new automated computer system, but eventually confessed that somebody at its end would manually type all the data into the system,” he says.“That ...
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Case StudiesScisys Group uses workplace savings platform to boost pensions engagement
Scisys Group has seen 30% of its employees increase their pension contributions since the organisation launched a workplace savings platform in November 2013.The IT services developer, which employs more than 400 people, launched the platform to help boost pensions engagement among staff and to offer them a variety of saving ...
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Case StudiesMarks and Spencer goes multi-channel for flex
Marks and Spencer (M&S) knew it was undertaking an ambitious project when it set out to launch a flexible benefits scheme to its entire workforce in 2013.Most of the retailer’s 75,000 UK employees work offline across more than 800 stores, so it had to develop a scheme that was accessible ...
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Case Studies
E.On uses games to drive up pensions membership
For energy firm E.On, the use of gamification was about getting as many employees as possible engaged in the auto-enrolment process after it decided to auto-enrol all employees, not just the statutory minimum.The organisation utilised two stages of gamification at two different times of the process as its plan was ...