All Financial wellbeing articles – Page 124
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Ian Wright: How will the changing state pension age affect employers?
Our employees are fortunate enough to be relatively high earners and most take part in the organisation’s pension scheme. This means that, as they approach their 60s, most should have personal savings, investments and assets, and should have built up a fairly substantial pension fund rather than be reliant on ...
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Simon Nash: How will the changing state pension age affect employers' pension strategies?
On 11 December 2013, the Office for National Statistics released an update to its projected mortality figures, predicting that girls born in 2013 would live to, on average, 94 years of age, with boys still living slightly shorter average lives.What is more, these statistics reveal that more than one-third of ...
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Michelle Cracknell: How will the changing state pension age affect employers' pension strategies?
With all of us living longer, the state pension is no longer affordable on its current terms. For those of us in the industry, the rise in the state pension age was confirmation of the inevitable, but was it expected by the public?The Pensions Advisory Service takes more than 80,000 ...
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David Fairs: How will the changing state pension age affect employers' pension strategies?
Saving longer and retiring later should make for higher pensions. But employees who want to retire earlier than state pension age, or indeed need to retire earlier because they are in a physically demanding job, will face some difficult choices. With the average pension pot of £30,000 currently providing an ...
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Employee Benefits Awards 2014 closing to entries
If you have not entered already, this is your last chance to do so - make sure you don’t miss out.See all the information you need to enter, along with the category details and entry forms.There are more than 20 categories to enter, so there is sure to be one ...
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Employee Benefits Awards applaud financial education
This award will recognise an employer that has taken a proactive approach to its workforce’s financial needs.The winning organisation may have: brought in financial advisers for one-to-one meetings; run financial seminars or workshops; installed financial modelling programmes on the intranet or internet; provided pre-retirement education; offered staff time off work ...
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Trident Reach offers financial wellbeing kiosk
Charity Trident Reach has launched a touch-screen kiosk to help employees access financial and wellbeing benefits.The kiosks provide staff with access to a range of products and services, such as healthcare policies and discounts from health insurer and employee benefits provider BHSF, as well as existing savings accounts with Citysave ...
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Reed Smith staff move to online savings platform
EXCLUSIVE: Law firm Reed Smith has seen 89% of employees register to manage their savings and benefits online since it launched an integrated workplace savings and flexible benefits platform.It introduced its platform, Path, in May 2013 because benefits take-up rates were low and the benefits were spread across different providers ...
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Aspire to Retire launches pre-retirement portal
Aspire to Retire has launched an online retirement portal, iAspire, to provide information and tools for pension scheme members.The portal is designed for employees to begin planning for retirement up to five years before their intended retirement date.It aims to educate pension scheme members and engage employees earlier to help ...
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IBM launches online pension reports
EXCLUSIVE: IBM has launched an online version of its pensions reports for employees.Between 2 October and 2 November 2013, the new reports received 650% more views than all the views for the previous 12 months.More than half (15,900) of the technology organisation’s 26,000 pension members now access the information electronically.The ...
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AnalysisHow much do staff need to contribute for a comfortable retirement?
If you read nothing else, read this…The minimum 8% contribution required under auto-enrolment legislation will provide employees with a decent income in retirement if they start saving at age 22.Employees should aim to contribute a percentage of salary equivalent to half their age when they begin contributing, or aim for ...
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A third of 30-somethings not saving for retirement
Almost a third (31%) of respondents in their 30s are not saving anything at all for retirement, according to research by Friends Life.Its GenXpectations research, which surveyed 2,000 individuals, found that more than half (51%) of respondents over the age of 40 said they wish they had saved more for ...
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41% have not discussed retirement plans with partners
More than two-thirds (41%) of respondents have never discussed how they will turn their pension savings into income in retirement, according to research by Prudential.Its research, which surveyed 1,996 adults over the age of 40 who currently live with their spouse or partner, found that 19% have discussed this but ...
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McCarthy and Stone raises pensions take up by 45%
EXCLUSIVE: McCarthy and Stone has increased take up in its pension scheme by 45% since it launched a workplace savings platform three years ago.The platform, provided by Hargreaves Lansdown, includes access to a self-invested personal pension, independent savings account and investment account.Since the retirement homes developer launched the platform in ...
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Retirement plans pushed back four years
Those approaching retirement are pushing back their retirement plans by an average of four years, according to research by pensions and investment provider NFU Mutual.Its research, which surveyed more than 2,000 UK adults, found that one in 10 respondents who are past the age of 55 and still working said ...
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Scisys boosts employee pensions engagement
EXCLUSIVE: Scisys Group has seen 85% of its staff register to manage their pension scheme online and 47% opt to select their own investments following the launch of its workplace savings platform.The IT services developer has also seen 30% of employees increase their pension contributions and 35% log-in to view ...
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Friends Life simplifies death-in-service claims process
Friends Life has simplified its death in service claims process by removing the need for claimants to show an original death certificate.The service, which provides financial support if an employee dies, will now verify the death in service instantly through the government records office.The online tool allows claims to be ...
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ArticleYoung employees lack opportunities to save
Two-thirds of young employees, who are ready to save for retirement, lack the opportunities to do so, according to research by Aegon UK.Its Changing face of retirement: the young, pragmatic and penniless generation survey, which had 10,800 global respondents, including 2,722 employees between the ages of 20 and 29, found ...
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45-to-54 year olds need to rethink pension saving
Pension savers aged between 45 and 54 need to rethink plans for funding their retirement, according to research by investment services organisation BlackRock.Its Investor pulse survey, which questioned 2,000 Britons between the ages of 25 and 74, found that the 45-to-54 age group was the most financially squeezed, with nearly ...
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71% will have to supplement retirement funds
Almost three-quarters (71%) of respondents believe they will need to supplement their income in retirement, according to research by financial services provider Partnership.Its research, which surveyed 2,000 people between the ages of 45 and 65, found that, while 33% of respondents aged between 50 and 65 had put aside savings ...