All Financial wellbeing articles – Page 127
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Article
Pot-follows-member pension launched for film industry
A pot-follows-member group personal pension (GPP) scheme has been launched for the film industry to comply with auto-enrolment legislation.The Film Industry Pension Scheme, which will be operated in partnership between Helm Godfrey and Scottish Widows, is designed to address a series of industry-specific issues when it comes to pension administration, ...
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Article
AWD Chase de Vere rebrands as Chase de Vere
Independent financial advice firm AWD Chase de Vere has been re-named as Chase de Vere as part of a large re-branding exercise.Stephen Kavanagh (pictured), chief executive of Chase de Vere, said: “We have made huge progress in the past four or five years, transforming our organisation into a high-quality, client-focused ...
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Article
Optimism about retirement low across the globe
Only 12% of respondents globally are very optimistic that they will have enough money to live on when they retire, according to research by Aegon and Transamerica Center for Retirement Studies.The Aegon retirement readiness survey 2013, which polled 12,000 workers and retirees in 12 Asian, European and North American countries, ...
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Supplier article
The Benefits Research 2013
The research covers benefits technology, company cars, employee engagement, financial education, flexible benefits, share schemes,health and wellbeing, pension schemes, voluntary benefits and international benefits.The report also examines employers’ benefits strategies and changes over the last few years, plus planned changes for the year ahead.Topics include:Why respondents offer benefitsThe issues shaping ...
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Analysis
Doug Taylor: How to engage staff in saving for retirement
Doug Taylor, financial services chief advocate at Which?, talks to Clare Bettelley, associate editor of Employee Benefits, about how employers can better engage employees to save for their retirement.Taylor explains how employers need to “start from where the individuals are” when encouraging them to save, as well as creating the ...
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Article
Employees not confidant their pension will deliver adequate income
More than half (57%) of respondents are not confident their pension will deliver an adequate retirement income, according to research by consultancy Hymans Robertson.Its research, which surveyed 500 UK adults who save into a defined contribution (DC) pension scheme, found that 23% of respondents do not know how much of ...
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Article
Employers must change attitude on ageing employees
This follows the report’s finding that 10.7 million people in the UK can currently expect inadequate income in retirement.The report also recommended that the government establish a commission to work with employers and financial services providers to improve pensions and savings.Jonathan Watts-Lay, director of Wealth at Work, said the government ...
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AnalysisKey points to tell staff about annuities
IF YOU READ NOTHING ELSE, READ THIS…Employers should encourage staff to consider their retirement options five to 10 years before their retirement date.By disclosing information about their lifestyle, for example whether they are overweight or a smoker, employees could get a more beneficial annuity rate.Employees should be encouraged to shop ...
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AnalysisBright future for workplace savings platforms
IF YOU READ NOTHING ELSE, READ THIS…Workplace savings platforms can offer a range of savings products.The platform market is young and providers are at various stages of product development.Employee take-up of fi nancial products via savings platforms remains low.Ask most workplace savings providers and employee benefits consultants about the future ...
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Case Studies
Glenmorangie finds right platform for pension communications
Ian Drysdale, HR director at Glenmorangie, says: “As an employer, we were very keen to increase membership of our scheme.”Take-up of its DC scheme was 53% higher than that of its previous defined benefit scheme, which closed in 2002. The rise was credited to the communications strategy, which included employee ...
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Article
Saving for retirement not top priority
Only one-fifth (21%) of respondents said that saving for retirement was their top financial priority, according to research by Friends Life.Its survey of 1,600 employees over the age of 50, found that this age group is more focused on making ends meet (23%), saving for holidays or leisure activities (15%) ...
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Article
Premier launches online retirement service
Premier has launched an online retirement service for both employers and trustees.The web-based service, Gateway2Retirement, is aimed at helping employees understand all of their pension options, and guiding them to the right one for them, whether it is an annuity, a drawdown pension or a phased retirement.For instance, if annuity ...
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Article
Wealth at Work launches retirement options service
Wealth at Work has launched a retirement income option service, which is designed to ensure employees maximise their retirement income.The service includes:Financial education, which will ensure employees understand the retirement income options available to them.Internet support tools to help support employees on all aspects of retirement which are easily accessible ...
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Article
JLT Wealth Management launches retirement service
JLT Wealth Management has launched a range of services to ensure that employers can provide their workforce with effective pre and at-retirement advice.The service, called Road to Retirement, supports employees in both defined benefit (DB) and defined contribution (DC) pension schemes.It includes:A pre and at-retirement information pack for all employees ...
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Article
House of Lords reports on ageing society
More than 10 million people in the UK can currently expect inadequate retirement incomes, according to a report by the House of Lords’ Select Committee on Public Service and Demographic Change.According to the report, Ready for ageing?, the UK will see a 50% rise in the number of people over ...
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Article
Henderson launches retirement advice
EXCLUSIVE: Henderson Global Investors has introduced employer-funded one-to-one financial advice sessions, targeted at employees who are around 15 years away from retirement.Jeremy Mindell, former senior reward and tax manager at Henderson Global Investors, said: “There’s an element of saying: ‘What are you going to do with your money? Is this ...
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Article
Padraig Floyd: Financial knowledge is power
Discussing finances with employees is often deemed a futile exercise because half the population does not understand what 50% is.Harsh, maybe, but unfortunately true.The government has finally realised that in order to protect its citizens, and improve the financial services industry in the process, no doubt, people are going to ...
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Opinion
Jonathan Watts-Lay: Employees need pensions education
Pension regulations seem to change constantly, whether it is the removal of the default retirement age or options available for generating income at retirement. As more employees retire from defined contribution (DC) pension schemes, or perhaps a combination of many different pension types, it is more important than ever to ...
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Case StudiesMarks and Spencer educates staff on savvy saving
The demise of Christmas savings club Farepak was a catalyst for Marks and Spencer (M&S) to launch its financial education programme in 2007.Farepak ceased trading in October 2006, leaving tens of thousands of savers out of pocket. Its parent company, EHR, went into administration the same day, and both businesses ...
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Case Studies
Financial workshops help educate University of Lincoln employees
The workshops are targeted at three age groups, for employees in their early, mid and late careers. All have the same themes, such as managing finances, setting career and financial goals, and understanding financial terminology.For the early career group, loosely aimed at those up to the age of 35, information ...