News – Page 25
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ArticleTPR used enforcement powers 21,814 times to tackle auto-enrolment non-compliance in Q4
The Pensions Regulator (TPR) used its enforcement powers for pensions auto-enrolment non-compliance 21,814 times between October and December 2018, compared to 38,095 times in Q3 of 2018, according to research by TPR.Its Compliance and enforcement quarterly bulletin: October-December 2018 report, which provides information on the powers TPR has used, as ...
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ArticleMore than 1.4 million employers have completed auto-enrolment duties
More than 1.4 million (1,448,774) UK employers have completed their pensions auto-enrolment duties, as at January 2019, according to research by The Pensions Regulator (TPR).Its Declaration of compliance report: July 2012-end January 2019, which is based on information submitted by employers when they complete their declaration of compliance documentation, also ...
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Article
Moore moves to Universities UK
[Have asked for pic]Sharon Moore has joined higher education representative organisation Universities UK as its pensions policies and engagement manager.Previously, Moore worked as manager, pensions and benefits at The London School of Economics and Political Science (LSE), pensions manager at the University of Hertfordshire and as senior pensions administrator at ...
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ArticleAccounts manager fined £5,000 for auto-enrolment non-compliance
Image credit: Akbar'sA Bradford-based accounts manager has been fined £5,000 for failing to automatically enrol 103 employees into a workplace pension.An investigation by The Pensions Regulator (TPR) found that Mansoor Nasir, who was acting as the payroll adviser for nine restaurants based across Birmingham, Manchester, Yorkshire and the North East, ...
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ArticleBroadstone Group acquires CS Financial Solutions
UK-based employee benefits and pensions consultancy Broadstone Group has acquired specialist employee benefits consulting firm CS Financial Solutions (CSFS), including its CS Trustees arm.The acquisition enables Broadstone Group, which also operates an independent trustee business, to strengthen and extend its current offering in the employee benefits consulting sector to support ...
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ArticleHistoric Royal Palaces staff continue strike action in pensions dispute
Historic Royal Palaces (HRP) staff, including Beefeaters, who are members of the trade union GMB, are undertaking strike action today (Wednesday 6 February 2019) in an ongoing dispute over pensions.GMB members will participate in a walkout at both the Tower of London and Hampton Court Palace sites between 11am and ...
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ArticleHalf of occupational DC trust-based pension schemes use default investment strategy
Just over half (52%) of occupational defined contribution (DC), trust-based pension schemes in the UK use a default investment strategy, according to research by The Pensions Regulator (TPR).Its DC trust: Presentation of scheme return data 2018-2019 report, now in its ninth edition, provides information from 31,910 current schemes from the ...
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ArticleThree-quarters of employees want a more tailored benefits package
Approximately three-quarters (73%) of employees want a more tailored benefits package, according to research by build-to-rent organisation Get Living.Its survey of 2,000 UK employees also found that 48% of respondents would leave their current job for one with better perks, while 7% are willing to take a pay cut in ...
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ArticleAlmost two-fifths of employers do not view financial wellbeing strategies as a priority
Almost two-fifths (37%) of employer respondents that have no plans to implement a financial wellbeing strategy for staff state that this is because it is not a priority, according to research by Close Brothers Asset Management.Its Financial wellbeing index 2019 report, which surveyed 1,003 employers with 200 or more staff ...
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ArticleEXCLUSIVE: The majority of employers do not currently offer a Lisa
EXCLUSIVE: Most employers (78%) do not currently offer a Lifetime individual savings account (Lisa), according to research by Employee Benefits and Barnett Waddingham.The report, Employee Benefits/Barnett Waddingham pensions research 2018, which was published in December 2018 and gathered 246 responses, fount that only 3% of organisations offer employees a Lisa, ...
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ArticleFCA to consult on protecting retirement income when accessing pension freedoms
The Financial Conduct Authority (FCA) yesterday (28 January 2019) launched a consultation on proposed measures designed to protect retirement income when individuals access pension freedoms.The consultation, which will be collecting feedback from stakeholders until 5 April 2019, proposes that pension scheme members who do not take financial advice should be ...
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ArticleSavers have accessed £23.6 billion through pension freedoms
Retirement savers have accessed approximately £23.6 billion through pension freedoms since reforms were introduced in April 2015, according to data from HM Revenue and Customs (HMRC).Its Flexible payments from pensions: January 2019 report also found that the number of individuals who have received flexible payments from their pensions between the ...
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ArticleCoffin Mew to introduce new employee proposition for 220 staff
Regional law firm Coffin Mew is to introduce a range of new employee benefits and workplace initiatives from April 2019 as part of its talent attraction and retention strategy.The new proposition, which is particularly focused on tackling gender equality and agile working, has been designed to align with the firm's ...
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ArticleHalf of employers think that staff financial wellbeing is not their responsibility
Around half (51%) of employer respondents think that staff financial wellbeing is not their responsibility, according to research by pension and investment organisation Aegon.The survey, which canvassed the views of 505 UK HR decision-makers, also found that 45% feel they would be intruding on the personal lives of their employees ...
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ArticleHistoric Royal Palaces staff strike in pensions dispute
Staff, including Beefeaters, who work at Historic Royal Palaces (HRP) and who are members of the GMB trade union, are conducting strike action today (Tuesday 22 January 2019) in a dispute over pensions.GMB members will be undertaking the industrial action at both the Tower of London and Hampton Court Palace ...
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ArticleAround two-thirds say contributory pension schemes are their most valued benefit
Around two-thirds (62%) of respondents state that a contributory pension scheme is one of their top five most valued benefits, according to research by global advisory and brokering organisation Willis Towers Watson.Its survey of 2,000 UK employees also found that respondents most valued health insurance (43%), life insurance (40%), critical ...
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ArticleEXCLUSIVE: Only two-fifths of employers offer at-retirement support
EXCLUSIVE: Only around two-fifths (39%) of employers offer at-retirement support, according to research conducted by Employee Benefits and Barnett Waddingham.The Employee Benefits/Barnett Waddingham pensions research 2018, which gathered 246 responses and was published in December 2018, found that this is consistent with previous years, as 40% of respondents provided this ...
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ArticleFrontier Airlines awards 53% across-the-board pay increase
US-based budget airline Frontier Airlines has ratified a new five-year collective bargaining agreement with the Air Line Pilots Association, International (Alpa), which includes an average 53% across-the-board pay increase.The new agreement, which becomes effective on 16 January 2019, and which Alpa estimates to be worth more than $1 billion (£779,315,000), ...
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ArticleEXCLUSIVE: 57% of employers support staff at retirement using online modelling tools
EXCLUSIVE: When it comes to methods of providing at-retirement support, financial education and awareness campaigns have seen huge leaps in popularity since 2017, according to research by Employee Benefits and Barnett Waddingham.The Employee Benefits/Barnett Waddingham pensions research 2018, which canvassed the views of 246 respondents and was published in December ...
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ArticleBradford-based accounts manager admits workplace pension offences
Bradford-based accounts manager Mansoor Nasir will be sentenced for workplace pension offences after pleading guilty to nine charges of knowingly or recklessly providing The Pensions Regulator (TPR) with information that was false or misleading.The offences, under section 80 of the Pensions Act 2004, involved workers at the Akbar chain of ...