News – Page 26
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ArticleGE Appliances seeks professional grandma to demonstrate products
Something for the weekend: US home products supplier GE Appliances is advertising for a professional grandma to demonstrate the cutting edge in its kitchen technology.The organisation states that it wants to celebrate non-traditional, stylish grandmas, and highlights the need for candidates who represent diversity and can help sustain cultural legacies ...
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ArticlePension cold calling to result in enforcement action and £500,000 fine
Organisations making unwanted, unsolicited phone calls to individuals regarding their pensions could face enforcement action, including fines of up to £500,000, under legislation that comes into force today (9 January 2019).Research conducted by the Money Advice Service in October 2015 found that there might be as many as 250 million ...
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ArticleFTSE 350 defined benefit pension deficit rises to £41bn at the end of 2018
The accounting deficit for defined benefit (DB) pension schemes at the UK’s top 350 organisations increased by 28% between the end of 2017 and the end of 2018, rising from £32 billion to £41 billion, according to research by Mercer.Its 2018 Pension risk survey, which analyses the pension deficit calculated ...
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ArticleEXCLUSIVE: Two-fifths expect internal HR teams to provide at-retirement support
EXCLUSIVE: The largest proportion of employers (40%) place the responsibility for providing at-retirement support at their HR, benefits, reward and learning and development teams, according to research by Employee Benefits and Barnett Waddingham.However, the Employee Benefits/Barnett Waddingham pensions research 2018, which gathered 246 responses and was published in December 2018, ...
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ArticleEXCLUSIVE: 75% of employers have had pensions communications in the last year
EXCLUSIVE: The majority of respondents recognise the importance of sharing pensions information with their staff, with three in four (75%) having undertaken a communication exercise in the last year, according to research by Employee Benefits and Barnett Waddingham.The report, Employee Benefits/Barnett Waddingham pensions research 2018, which was published in December ...
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ArticleFormer BHS owner Chappell ordered to pay over £124,000 for TPR breaches
Dominic Chappell, director and majority shareholder of the organisation that bought BHS for £1, has been ordered to pay more than £124,000 for failing to hand over information to The Pensions Regulator (TPR).Chappell failed to disclose details required by TPR under section 72 of the pensions act 2004 as part ...
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ArticleMore than 1.4 million employers complete auto-enrolment duties
Around 1.4 million (1,418,680) UK employers have completed their pensions auto-enrolment duties as at November 2018, according to research by The Pensions Regulator (TPR).Its Declaration of compliance report: July 2012-end November 2018, which is based on information submitted by employers when they complete their declaration of compliance documentation, also found ...
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ArticleTPR prosecutes accountant for pensions fraud
The Pensions Regulator (TPR) is prosecuting an accountant for transferring more than £200,000 of pension scheme funds into his personal bank account, and into the accounts of organisations he controls.TPR is prosecuting Roger Bessent, 66, for abusing his position as the director of professional pension scheme trustee organisation Gleeson Bessent ...
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ArticleEXCLUSIVE: 54% are concerned about decision-making when accessing pension benefits
EXCLUSIVE: Uncertainty about how to make the best decisions when accessing pension benefits topped the list of employees’ concerns regarding retirement, cited by 54% of respondents in research conducted by Employee Benefits and Barnett Waddingham.The Employee Benefits/Barnett Waddingham pensions research 2018 garnered 246 responses and was published in December 2018. ...
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ArticleTPR issues guidance on DB superfunds ahead of government legislation
Employers will need to apply to The Pensions Regulator (TPR) for clearance if they wish to transfer their defined benefit (DB) pension scheme into a superfund, according to guidance published by TPR today (Friday 7 December 2018).While the government consults on the consolidation of DB pension schemes, TPR has issued ...
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ArticleAll master trusts agree that authorisation regime is a positive development
All respondents either agree (7%) or strongly agree (93%) that the master trust authorisation regime is a positive development, according to research conducted by a working party of eight organisations and the Pensions Management Institute (PMI).The PMI master trust report: working collaboratively to overcome barriers to good service delivery, published ...
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ArticleCourt of Appeal upholds that BT cannot change index used to calculate pension increases
The Court of Appeal has upheld that telecommunications organisation BT cannot change the index it uses to calculate pension increases for the approximately 80,000 members in section C of its defined benefit (DB) pension scheme.BT went to the High Court in December 2017 to seek a decision on whether it ...
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ArticleFirst pensions dashboard set for launch in 2019, says government report
The first version of the pensions dashboard is set to be launched next year, according to feasibility report and consultation into the project conducted by the government. The dashboard will be designed to give individuals information on how much they have in their pension pots and the funds they can ...
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ArticleEXCLUSIVE: 85% believe it is too early to tell the impact of Brexit on pensions
EXCLUSIVE: An overwhelming majority of respondents (85%) believe it is too early to tell what the impact of Brexit will be on pensions, according to research by Employee Benefits and Barnett Waddingham.The report, titled Employee Benefits/Barnett Waddingham pensions research 2018, surveyed 246 respondents and was published in December 2018. It ...
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ArticleHalf of employees with money worries believe their work is suffering as a result
Half (50%) of employees experiencing financial worries believe that the quality of their work is negatively affected as a result, according to a study commissioned by pension and investment organisation Aegon.The research, based on an August 2018 YouGov survey of 505 HR decision makers from UK private sector organisations, also ...
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ArticleTwo-fifths of younger workers are putting off saving for retirement
More than two-fifths (44%) of workers aged between 25 and 34 admit to putting off saving for or investing in long-term prospects such as retirement, according to research by investment management organisation Blackrock.In July 2018, the organisation's annual DC pulse survey polled 1,000 UK working adults aged between 25 and ...
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ArticleEXCLUSIVE: Hachette caricatures employees' future selves to boost pension engagement
EXCLUSIVE: On Wednesday 28 November 2018, London-based publishing organisation Hachette held a workplace pension engagement session at its office on Victoria Embankment, which included seminars, one-to-one chats, and artists drawing 'future self' caricatures.Workplace pensions provider Aegon and pension communications organisation Pension Geeks joined Hachette at its head offices to provide ...
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ArticleEmployee Benefits' pensions research 2018
Click to download the Employee Benefits/Barnett Waddingham pensions research 2018 reportThe Employee Benefits/Barnett Waddingham pensions research 2018 was conducted in September 2018 among readers of employeebenefits.co.uk. It received 246 responses.This report is aimed at helping compensation, reward and benefits professionals understand the key issues driving current pensions strategies, as well ...
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ArticleDiscovery Flexibles Limited chief executive banned from being a trustee
Thomas Christopher Wrigley, chief executive officer and major shareholder at flexible printed packaging manufacturer Discovery Flexibles Limited, has been convicted of refusing to give information to The Pensions Regulator (TPR).TPR launched an investigation when it was contacted by a whistle-blower who alleged that Wrigley, who was also chair of trustees ...
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ArticleHymans Robertson to introduce financial education seminars for 850 UK staff
Pensions and risk consultancy Hymans Robertson is to introduce a series of financial education seminars from January 2019, in order to broaden the wellbeing offering provided for its 850 UK-based employees.The 45-minute, face-to-face seminars, which will be conducted by financial planning and advice business 1825, will be held across Hymans ...