News – Page 7
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ArticleDepartment of Work and Pensions launches collective defined contribution consultation
The Department of Work and Pensions (DWP) has launched a public consultation on a policy framework for broadening collective defined contribution (CDC) provision in pension schemes.The consultation was launched to get views from the public on policy proposals for broadening CDC provision beyond single or connected employer schemes, to accommodate ...
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ArticleNRMA Group to continue pension contributions during unpaid parental leave
Australian employer National Roads and Motorists' Association (NRMA) Group has agreed to pay superannuation on the unpaid portion of parental leave as part of its aim to close the gender pay gap for females.The superannuation payment, a type of pension plan in Australia, will increase by an average of $5,600 ...
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ArticleInterserve completes £400 million pension scheme buy-in
Interserve, a construction firm that went into administration in 2019, has completed a £400 million buy-in for its pension scheme members.The transaction was conducted with provider Aviva, and secured the benefits of more than 7,000 scheme members and follows a £300 million pensioner-only buy-in that took place in 2014.Aviva insured ...
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ArticleForget Me Not introduces salary sacrifice pension scheme
Huddersfield-based children’s Hospice charity Forget Me Not has launched a salary sacrifice pension arrangement in order to look after the financial wellbeing of its 140 employees.Through a partnership with financial wellbeing platform Maji, the charity will pay the total pension contribution on behalf of each member of its workforce, and ...
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ArticleGovernment to protect pensions triple lock
Autumn budget 2022: The government has confirmed that the pensions triple lock and credit will be protected, and rise by 10.1% in April 2023.Chancellor of the exchequer Jeremy Hunt told the House of Commons that the state pension will be uprated by inflation, rather than in line with average earnings ...
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ArticleLaura Trott appointed minister for pensions
Image credit: Gov.ukPrime Minister Rishi Sunak has appointed Laura Trott MBE as minister for pensions, after predecessor Alex Burghart officially held the role for less than one month.Trott was appointed on 27 October, and the Department for Work and Pensions (DWP) made the announcement on 7 November via its official ...
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ArticleFirefighters to receive £3,750 pay out in pensions case
A ruling has stated that nearly 9,000 firefighters are set to receive a £3,750 pay out following a case that found they were receiving less money in their pensions than they should.The figure was awarded as compensation for anxiety, distress and related feelings, while some claimants with additional reasons for ...
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ArticleAlex Burghart appointed minister for pensions and growth
Prime Minister Liz Truss has appointed Alex Burghart as minister for pensions and growth in the Department for Work and Pensions (DWP).Burghart has been the Conservative MP for Brentwood and Onga in Essex since 2017, and has served as Parliamentary Under-Secretary of State in the DWP since September. He was ...
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ArticleEmployee Benefits Live 2022 speaker slides
Where speakers have given approval, we have uploaded the speaker slides for the keynote and conference sessions at Employee Benefits Live 2022, which took place on 5-6 October 2022 at ExCeL London.Thank you very much to all of the speakers for sharing their ideas, experiences and insights.Keynote speakersK1: Diversity, equality ...
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ArticleEXCLUSIVE: Ford Motor Company creates dyslexia-friendly pension communications
Employee Benefits Live 2022: To support its dyslexic employee population, Ford Motor Company has formed an initiative to create pensions communications that are more accessible.Addressing delegates at Employee Benefits Live 2022 in a session entitled 'Creating dyslexic-friendly pensions communications', Oliver Payne, international pensions and data analytics manager at Ford Motor ...
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ArticleFord, Siemens and Brambles to discuss pensions at Employee Benefits Live 2022
Experts from Brambles, Ford Motor Company and Siemens will discuss key issues relating to pensions at Employee Benefits Live 2022.Oliver Payne, international pensions and data analytics manager at Ford Motor Company, Jo Udall, pensions manager UK and Ireland at Siemens, and Sinead Swift, senior manager of reward at Brambles, will ...
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ArticleEXCLUSIVE: Ford Motor Company to discuss pensions communications at Employee Benefits Live 2022
EXCLUSIVE: Oliver Payne (pictured), international pensions and data analytics manager at Ford Motor Company, has been revealed as one of the speakers at Employee Benefits Live 2022.His presentation, Creating dyslexic-friendly pensions communications, will be part of the conference’s financial reward and pensions stream, and will take place in Theatre Two ...
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ArticleKesslers Group secures £21 million full scheme pension buy-in
Kesslers Group has agreed to a £21 million full scheme buy-in with Legal and General Assurance Society for its pension plan.The transaction, signed in June, has secured the benefits of 240 employees of the on-site manufacturer, including including a mix of deferred and pensioner members.Pensions administration and trustee consulting service ...
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ArticleGovernment launches NHS pension changes consultation
The UK government has launched a consultation on potential changes to the NHS pension scheme, which could make it easier for retired and partially retired NHS staff to return to the workforce.Some pension scheme retire and return rules were suspended in March 2020 to allow staff to return to work ...
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ArticleCoastline Housing pilots living pension to combat poverty in retirement
Cornish charitable housing association Coastline Housing has launched a pilot living pension scheme, initiated by the Living Wage Foundation, in order to combat poverty in retirement for its 350 employees.The association, which owns and manages 5,000 homes across Cornwall, is one of six employers that have committed to testing a ...
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ArticleOnly 23% are aware of ESG options for workplace pensions
Only a quarter (23%) of employees are aware of environmental, social and governance (ESG) options when it comes to their workplace pension, according to research from employee benefits, wellness and financial education provider Secondsight.In the report, Workplace pensions and ESG, 60% admitted they did not know what ESG investing was; ...
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ArticleThree-fifths of European employees want additional pensions advice from employers
Almost three-fifths (58%) of employees across Europe showed high or very high interest in accessing professional advice on managing their pensions via their employer, according to research from Alight Solutions.The Retirement perception index, undertaken in partnership with the University of Granada, was carried out among 2,400 employees in businesses across ...
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ArticlePensions minister Guy Opperman resigns
Pensions minister Guy Opperman has resigned from his position in government as of 7 July 2022, following exit announcements from more than 50 other ministers since the start of the week.Opperman started in the role of Pensions Minister on 14 June 2017, and became the longest-serving pensions minister on 11 ...
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Article71% of private sector employers offered pensions in 2019
Almost three-quarters (71%) of private sector employers made some form of pension provision for their employees in 2019, according to research commissioned by the Department for Work and Pensions (DWP).The report, EPP 2019, which was conducted by Kantar Public and the National Institute of Economic and Social Research, found that ...
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ArticleGovernment expects to eliminate gender state pension gap by 2040
The government revealed that it expects the gender state pension gap to be eliminated by 2040, suggesting that auto-enrolment could decrease the savings shortfall between men and women.The issue of the state gender pensions gap was raised in the House of Lords on 27 June, as Lord Davies of Brixton ...