News – Page 66
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ArticleEmployee Benefits digital magazine – November 2014
Employers are looking at how enhanced benefits can help them attract and retain the best employees. Read how on page 18Samsung’s focus on innovation runs right through the organisation, and has been key to the evolution of its employee benefits strategy. Read how in on page 58Rewarding employees who are ...
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ArticleEmployee Benefits digital magazine – November 2014
Employers are looking at how enhanced benefits can help them attract and retain the best employees. Read how in Seducing the talent (page 18)Samsung’s focus on innovation runs right through the organisation, and has been key to the evolution of its employee benefits strategy. Read how in Inspiring change (page ...
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ArticlePeel Ports Group awarded Pension Quality Mark Plus
Peel Ports Group has been awarded the Pension Quality Mark Plus (PQM Plus) in recognition of the quality of its enhanced defined contribution (DC) pension scheme.The PQM, which was launched by the National Association of Pension Funds (NAPF) in 2009, recognises employers that offer pension schemes with good-quality governance and ...
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ArticleAviva in talks to acquire Friends Life
Aviva is in talks to buy fellow insurer Friends Life in a deal worth almost £5 billion.The merger would create the UK’s largest insurance and savings business with more than 16 million customers.It would also lead to a substantial increase in profits and assets under management at Aviva Investors.he merger ...
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ArticleHalf of women saving adequately for retirement
Half of the UK female population is now saving adequately for retirement, representing a 10 percentage point rise year on year, according to research by Scottish Widows.The Scottish Widows Women and retirement report, which surveyed 5,055 UK adults, also found that the gender gap when it comes to adequate retirement ...
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ArticlePension schemes fall behind with DC governance requirements
Pension schemes are behind with their work on defined contribution (DC) governance requirements, according to research by pensions law firm Sackers. Its survey, which was conducted among trustees and pension professionals, found that more than two-thirds (69%) of pension schemes have not carried out a value-for-money assessment, a new standard ...
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ArticleOnly 6% of UK staff on track for retirement income
Just 6% of employee respondents are on track for the retirement income they want, despite the focus on pensions following the reforms announced in this year’s Budget, according to research by Aegon.Its second Aegon UK Readiness report surveyed 4,000 UK employees to assess their behaviour, awareness and finances to determine ...
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ArticleThomas Miller and Wolseley awarded Pension Quality Mark
Professional service firm Thomas Miller and heating and plumbing organisation Wolseley are among the latest employers to be awarded the Pension Quality Mark (PQM), which recognises employers’ defined contribution (DC) pension schemes. Other organisations to be recognised by the National Association of Pension Funds (NAPF) include chemical organisation BASF, drinks ...
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ArticleZurich proposes closing DB pension to future accrual
Zurich is proposing to overhaul pension and reward arrangements for all of its UK employees, which may include closing the defined benefit (DB) section of its pension scheme to future accrual in 2015. The proposed changes, which would affect 7,200 employees, aim to help safeguard Zurich’s long-term future as a ...
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ArticleUK universities strike over pensions dispute
Employees at a number of UK universities including Oxford and Cambridge have gone on strike in a long-running pensions dispute.Employees are in dispute over proposed changes to the Universities Superannuation Scheme, which could see the existing defined benefit (DB) pension scheme axed and around 150,000 active scheme members moved to ...
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ArticleDOD’s blog: The holiday pay debacle
Unless you have been hiding under a rock this week, you will be fully aware that on 4 November the Employment Appeal’s Tribunal (EAT) has made a hugely significant ruling about how holiday pay is calculated.Every law firm in the country, along with several unions, were quick to issue email ...
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ArticlePensions research 2014
The Employee Benefits/Close Brothers Pensions research 2014, examines the latest pensions industry trends and issues, enabling employers to keep up to date on the changing needs of their workforce, particularly for staff approaching or at retirement. The research includes the following articles:Jeanette makings: Financial education provides essential retirement guidance Clare ...
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ArticleLicensed Trade Charity boosts pension take up
Nick Funnell, head of LVS Ascot Junior School, with studentsThe Licensed Trade Charity has seen take up increase in its pension schemes following auto enrolment.The organisation offers three schemes. Firstly, a money purchase defined contribution (DC) scheme, provided by Legal and General, which was introduced for auto enrolment. It has ...
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ArticleClare Bettelley: Employers need to address staff at-retirement needs now
This perhaps explains why more than half (55%) of respondents do not offer staff support at retirement; the associated issues aren’t at the forefront of employers’ minds.Many employers have reservations about providing at-retirement support because of the blurred boundary betweenfinancial guidance and advice , which employers are prohibited from offering.Employees ...
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ArticleStaff face big decisions around pension savings
Nearly two-thirds (60%) of respondents say uncertainty about how to make the best decisions around how to access their pensions savings is the greatest challenge facing their employees, according to the Employee Benefits/Close Brothers Pensions research 2014. The research, which surveyed 216 respondents in September 2014, also found that the ...
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Article62% of HR and benefits teams support staff at-retirement
Just under two-thirds (62%) of respondents’ HR and benefits teams are responsible for their organisation’s at-retirement support for staff, according to the Employee Benefits/Close Brothers Pensions research 2014.The research, which surveyed 216 respondents in September 2014, also found that just over a third (37%) of respondents said that their pension ...
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Article36% predict future need for at-retirement support
Just over a third (36%) of respondents think that employers will need to offer at-retirement support to their staff in the future, according to the Employee Benefits/Close Brothers Pensions research 2014.The research, which surveyed 216 respondents in September 2014, also found that 30% of respondents are in the throes of ...
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Article49% assessing at-retirement support funding
Just under half (49%) of respondents have yet to quantify the funding they need for their pre-retirement programmes, according to the Employee Benefits/Close Brothers Pensions research 2014.More than a third (35%) of the 87 respondents that offer staff support at retirement expect their funding to remain about the same in ...
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ArticleGPPs remain employers' most popular pension scheme
Group personal pension (GPPs) plans remain the most commonly offered type of scheme by employers.More than three-quarters (78%) of respondents now offer a GPP as their primary pension scheme, according to the Employee Benefits/Close Brothers Pensions research 2014, which surveyed 216 respondents in September 2014.Although the numbers have fluctuated over ...
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ArticlePension reforms drive staff need for guidance
More employees will want and need guidance around their pension decisions both at retirement and throughout their career as a result of the government’s pension reforms.Just under half (48%) of respondents felt that this would be the case at retirement, while 43% said staff would require guidance throughout their career, ...