All Financial wellbeing articles – Page 124
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Article
DOD’s blog: What the Budget means for workplace pensions
Wednesday’s Budget is a game changer for workplace pensions, and one that I broadly welcome.The details and ramifications of these changes to the way savers can withdraw wealth from defined contribution (DC) pension plans will play themselves out over the coming months and years.But the new rules – some of ...
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Case StudiesMcCarthy and Stone uses financial education to boost pension take-up
The revamp was driven by the fact that the group personal pension (GPP) scheme the employer had offered since the 1990s had not changed much since it was implemented. Its new scheme is a self-invested personal pension (Sipp) supplied by Hargreaves Lansdown as part of its Corporate Vantage platform, a ...
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ArticleBrowne Jacobson launches financial education sessions
EXCLUSIVE: Browne Jacobson is rolling out financial education sessions for its employees.The sessions are targeted at three groups of staff: those who are over 50 and planning to retire, those between the ages of 30 and 40, and those between the ages of 20 and 30 who are just starting ...
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AnalysisRetirement communication timeline
Source: Regulatory guidance for defined contribution schemes, The Pensions Regulator, November 2013
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AnalysisHow to create a multi-generational financial education programme
If you read nothing else, read this…Effective financial education programmes focus on real-life issues, such as indebtedness, rather than employees’ age.Face-to-face support and online modelling tools can help to deliver programme content.Financial stress can affect an employee’s productivity.But ensuring that a programme addresses a workforce’s wider, multi-generational financial needs poses ...
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ArticleGovernment to guarantee free financial guidance for DC pension members
The governmentis to guarantee free face-to-face advice for all employees that retire in defined contribution (DC) pension schemes from April 2015.Chancellor George Osborne announced in the 2014 Budget that everyone who retires in a DC pension will be offered free, impartial, face-to-face advice on their choices at the point of ...
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Case StudiesUnilever segments financial education programme
The consumer goods organisation launched a financial education programme to its workforce in 2012 as part of an overhaul of its pension scheme provision.Unilever closed its defined benefit (DB) pension scheme in June 2012 and replaced it with a hybrid career average and defined contribution (DC) scheme , managed by ...
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Case StudiesEmployees’ skillsets underpin University of Lincoln’s workforce planning strategy
Ian Hodson, reward and benefits manager, says: “Universities are an interesting case because the point of academia is to bring in new thinking or research, which often means we must ensure we have the capacity to allow for new staff.“Also, in an academic context, an employee’s subject area is often ...
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AnalysisAn overview of the working generations
Source: Talking about my generation: Exploring the benefits engagement challenge, Barclays Corporate and Employer Solutions, September 2013
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Article
23% of 2014 retirees not ready to stop working
Almost a quarter (23%) of respondents who plan to retire this year said they do not feel ready to stop working completely, according to research by Prudential.Its Class of 2014 research, which surveyed 7,821 non-retired UK adults over the age of 45, found that more than half (54%) of respondents ...
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ArticleAnnuities market is not working
The annuities market is not working, according to a review by the Financial Conduct Authority (FCA).Its Thematic review of annuities, which is part of the first stage of the FCA’s review into retirement products, gathered information from 25 organisations representing 98% of the annuities market.The review found that, for a ...
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AnalysisFive top workplace savings initiatives
If you read nothing else, read this…Employers can offer a range of schemes to help meet employees’ short- and long-term savings objectives.Effective marketing of workplace savings schemes can generate interest and boost participation.Employees will appreciate the ability to analyse their whole financial portfolio.Whether it’s short-term savings or putting more money ...
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Article
Employee Benefits Awards entry deadline extended to 17 January
We will not accept entries past this date, 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 no fewer than 22 categories to enter, so there is sure to be one to recognise your hard work.Workplace ...
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Opinion
Ian Hodson: Financial education will be key in 2014
One thing that has become critical is the provision of financial education in the workplace and ensuring that the right offering is there to ensure that financial planning will underpin employees’ career and retirement planning. This is becoming even more important when looking at the pensions landscape, the demographic changes ...
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Article
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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Article
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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Article
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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Article
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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Article
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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Article
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 ...