News – Page 19
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ArticleEXCLUSIVE: 77% say it is too early to gauge impact of Brexit on pensions
EXCLUSIVE: 77% of respondents say it is too early to tell how Brexit will impact pensions, according to research by Employee Benefits. This is a slight decrease on the 85% that said the same last year, but remains significantly higher than the 39% that said the same in 2017.At the ...
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ArticleEXCLUSIVE: 74% cite uncertainty on pension decision-making as key retirement concern
EXCLUSIVE: For the second consecutive year, uncertainty about how to make the best decisions when accessing pension benefits tops the list of concerns affecting the workforce in the run up to, or during, retirement. This year, 74% said this is the case, up from 54% in 2018, according to research ...
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ArticleEXCLUSIVE: Only 16% of employers measure their gender pensions gap
EXCLUSIVE: Although employers are increasingly focused on closing the widely discussed and publicised gender pay gap, just 16% of respondents proactively measure the gender pensions gap in their organisation, according to research by Employee Benefits.While it is encouraging that some organisations are doing so, there is still a long way ...
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ArticleEXCLUSIVE: 37% of employers provide financial education to all employees
EXCLUSIVE: The proportion of organisations that provide financial education for all employees has changed little since the research was conducted in 2018, going from 36% to 37% this year, according to research by Employee Benefits.The Employee Benefits/Wealth at Work Pensions research 2019, which was conducted during October 2019 among 135 ...
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ArticleEXCLUSIVE: Majority of employers use in-house teams to provide at-retirement support
EXCLUSIVE: Despite the increased sense that it is a pension provider’s responsibility, the primary source of at-retirement support continues to be HR, benefits, reward, and learning and development teams (34%), and in-house pensions teams (13%), according to research by Employee Benefits.The Employee Benefits/Wealth at Work Pensions research 2019, which was ...
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ArticleEXCLUSIVE: 67% have undertaken pensions communications within the last year
EXCLUSIVE: Employers are responding to the challenge of ensuring staff are saving enough for a comfortable retirement by continuing to open up communications channels around pensions, according to research by Employee Benefits.The Employee Benefits/Wealth at Work Pensions research 2019, which was conducted during October 2019 among 135 HR decision makers, ...
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ArticleEXCLUSIVE: Almost half of employers offer at-retirement support
EXCLUSIVE: The value of providing at-retirement support is becoming gradually more apparent to employers, with 46% of HR decision-makers stating that their organisation helps staff with this life stage in 2019, compared to 39% of employers in 2018 and 40% in 2017, according to research by Employee Benefits.This increasing interest ...
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ArticleFrench transport employees strike over pension reforms
Image credit: Willy BartonFrench transport workers, represented by the Confédération Générale du Travail (General Confederation of Labour (GCT)), are undertaking strike action today (17 December 2019) in an ongoing dispute regarding pension reforms.This is the 13th day of strike action in protest of French prime minister Edouard Philippe's November 2019 ...
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ArticleNine in 10 say employers should support all aspects of staff financial wellbeing
Almost nine in 10 (88%) senior HR professional believe it is an employer’s responsibility to provide support on all aspects of staff financial wellbeing, according to research by Smarterly.The research, published in December 2019, surveyed 250 HR professionals within organisations with 300 or more employees. It also found that almost ...
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ArticleEXCLUSIVE: 54% of employers do not think staff are saving enough for retirement
EXCLUSIVE: In answer to a new question asked of them this year, more than half (54%) of survey respondents do not feel that their organisation’s employees are saving enough to be comfortable once they exit work, according to research by Employee Benefits.The Employee Benefits/Wealth at Work Pensions research 2019, which ...
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ArticleEXCLUSIVE: 5% of employees are affected by pension tax allowance limits
EXCLUSIVE: The lifetime and annual allowance limits that were introduced in 2016 have led some employers to look at alternative options in place of pension contributions.Across all respondents, a mean 5% of employees are affected by the allowance limits, according to research by Employee Benefits.The Employee Benefits/Wealth at Work Pensions ...
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ArticleEXCLUSIVE: 26% want guidance on retirement decisions due to pension freedoms
EXCLUSIVE: The pension freedoms, introduced in April 2015, gave many employees increased choice around how and when to access their pension. However, with more choice and flexibility has come a greater need for guidance around retirement savings.This year, 26% of respondents have found that more employees want guidance around decisions ...
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ArticleEXCLUSIVE: 34% have widened communications due to auto re-enrolment
EXCLUSIVE: Under auto-enrolment legislation, employers are required to re-enrol employees into a pension scheme every three years. Many employers have used this as a lever to expand their communications strategy. For example, 34% of respondents have introduced, or plan to introduce, wider communications around pensions and retirement saving, while 23% ...
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ArticleEXCLUSIVE: Three-fifths do not offer a secondary pension scheme
EXCLUSIVE: Almost three-fifths (57%) of respondents do not offer a secondary pension scheme, according to research by Employee Benefits.The Employee Benefits/Wealth at Work Pensions research 2019, which was conducted during October 2019 among 135 HR decision makers, also found that of those that do offer a secondary scheme, the most ...
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ArticleUCL academics and outsourced domestic staff unite in strike over pay and conditions
University College London (UCL) academic, support and domestic staff have joined together for the first ever combined strike of direct and outsourced university staff today (4 December 2019).Represented by the Independent Workers Union of Great Britain (IWGB), staff including outsourced cleaners, porters and security officers who are currently employed by ...
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ArticleEXCLUSIVE: Majority of employers contribute above auto-enrolment minimum
EXCLUSIVE: The majority of employers are contributing higher rates into their employees’ pensions than the minimum amounts required under auto-enrolment, according to research by Employee Benefits.The Employee Benefits/Wealth at Work Pensions research 2019 was conducted during October 2019 among 135 HR decision makers.Legislation calls for employers to contribute at least ...
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ArticleEXCLUSIVE: 53% of employers offer GPPs as primary pension scheme
EXCLUSIVE: The most common primary pension scheme offered by employers this year is a group personal pension (GPP) plan, cited by more than half (53%) of respondents, according to research by Employee Benefits.The Employee Benefits/Wealth at Work Pensions research 2019, which was conducted during October 2019 among 135 HR decision ...
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ArticleTiny Hearts Day Nursery ordered to pay £8,200 for failing to pay staff pensions
Childcare provider Sulouste, which trades as Tiny Hearts Day Nursery, has been ordered to pay £8,200 to 13 employees for failure to comply with pension duties, the Pensions Regulator (TPR) has ruled.The sentencing was held at Brighton Magistrates’ Court on 20 November 2019 after the defendants pleaded guilty to the ...
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Staff at 60 UK universities commence strike action in dispute over pay and pensions
Staff employed at 60 UK universities, and who are members of the University and College Union (UCU), have commenced strike action today (Monday 25 November 2019) in a dispute over pay, conditions and pensions.The strike, which will affect institutions across the UK, including York, St Andrews, Cardiff, Cambridge, Oxford and ...
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ArticleA third of women do not know how much they have saved in pensions
Just over a third (34%) of women are not aware of how much they have saved in pensions, compared to only 16% of men, according to research by Aegon.The Aegon retirement confidence survey, which tracked the responses of a sample of 830 representative UK residents, also found that 40% of ...