News – Page 8
-
ArticleGovernment consults on helping savers understand pensions
The Department for Work and Pensions (DWP) has launched a consultation on how to help savers, improve member communications, guidance, and decumulation products in pension schemes.The consultation, titled Helping Savers Understand their Pension Choice, will explore what support pension schemes members need to help them make decisions about their savings. ...
-
ArticleMarks and Spencer, Royal Mail and Co-op commit to green pension schemes
Marks and Spencer (M and S), Royal Mail and Co-op have committed to making their pension schemes 'go green' in 2022, through robust net zero targets.The businesses aim to halve the emissions of their investments by 2030 at the latest, in line with the Paris Climate Agreement. Collectively, the commitments ...
-
ArticleDisability pension gap puts pots at 36% of UK average
New data has highlighted that people with disabilities have a private pension pot of just 36% of the UK average.The research, commissioned by pension provider Now: Pensions and carried out by the Pensions Policy Institute, revealed that people with a disability who are approaching retirement age have a £47,980 average ...
-
ArticleConfessions of a benefits manager: Candid tries to educate the talent team
We have a bit of a problem with the talent team. A misnomer if ever there was one. It might be different in other organisations but our recruiters are not a very talented bunch. I’m pretty sure that the criteria for hiring them is a dubious certificate in media studies ...
-
ArticleStaples UK agrees £47m pension scheme buy-in
The Universal Office Supplies Pension Scheme, the sponsor of which was Staples UK, has agreed a pensions buy-in worth approximately £47m with Legal and General Assurance Society (Legal and General).Staples UK was previously a provider of office supplies, which sold its UK division to Hilco Capital in 2016, and entered ...
-
ArticleHalf of DC pension schemes driven to help employees retire at reasonable age
Almost half (46%) of defined contribution (DC) pension schemes are primarily driven by the aim to provide sufficient pension funds for employees to retire at a reasonable age, up from 29% in 2020, according to research by Aon.Its 2022 DC pension scheme and financial wellbeing survey, which surveyed schemes collectively ...
-
ArticleUK workplace pension participation up to 79% in 2021
The Office for National Statistics (ONS) has revealed that the workplace pension participation rate in the UK was at 79%, the equivalent of 22.6 million employees, in April 2021.This was a slight increase from 78% in 2020, which the ONS said could be partly be explained by increased public sector ...
-
ArticleApp Drivers and Couriers Union to take action against Uber's pension
The App Drivers and Couriers Union (ADCU) has commenced legal action after representatives wrote to Uber to request that the pension provision arranged for drivers be made Sharia compliant.Sharia compliance requires that pension funds should not be invested in businesses involved in activities not accepted by Islam, such as the ...
-
ArticleGusto Italian expands financial wellbeing package
Casual dining restaurant group Gusto Italian has partnered with automated cloud payroll software provider PayCaptain, as part of a push to get financial wellbeing and awareness higher on its 600 employees' agendas.As a result of the partnership, employees are now able to access pay on demand. This includes wage advances, ...
-
ArticleSeven out of 10 employers actively promoting pensions to younger employees
Employee Benefits poll: More than seven out of 10 employers are already actively promoting their pensions to younger employees, and many more intend to do so in the future.More than 71% of respondents to an online survey said they were actively engaging younger employees in pensions through targeted communications. A ...
-
ArticleTFL pensions review recommends maintaining current scheme
Photo: Transport for LondonThe Independent review into Transport for London (TFL)’s pension scheme led by former trade union official Sir Brendan Barber has suggested that TFL maintains the current final salary scheme with no changes.The government instructed TFL to set up a pensions review as part of conditions it attached ...
-
ArticleScottish university staff strike in pensions and pay row
Staff employed at several Scottish universities have begun five days of strike action this week as part of an ongoing dispute over pensions, pay and working conditions.This is the third round of industrial action from University and College Union (UCU) members this academic year over these issues.According to the union, ...
-
Article58% of single female staff ineligible for automatic pension enrolment
More than half of single working mothers (58%) are ineligible for automatic enrolment into a workplace pension, according to new survey findings, which is an increase from 45% in 2020.The research, conducted by pension provider Now: Pensions and The Pensions Policy Institute to coincide with National Single Parent Day (21 ...
-
Article
Poll: Do you actively engage younger employees in pensions through targeted communications?
Take part in our latest readers’ poll on a current topical issue. Many (82%) young employees aged between 18 and 22 revealed that they want to start saving for their pensions and retirement before the current default age of 22. In light of this, do you take a targeted approach ...
-
ArticleHermes UK introduces pension scheme in rebrand
Delivery firm Hermes UK has announced that as part of a rebrand it will auto-enrol its self-employed plus (SE+) couriers into a pension scheme by the end of this year.The organisation, which employs more than 30,000 UK couriers, has rolled out a new logo and brand identity - ‘Evri’ - ...
-
ArticleGender pensions gap increases for older staff
New research has found the gender pension gap between men and women’s contributions is 35% for employees aged between 50 and 54, almost double the gap for 35 to 39 year-olds (18%).Pension and insurance provider Aviva’s findings were based on employer and employee contributions of more than two million savers ...
-
Article82% of young staff want to save for pensions before turning 22
New research has revealed that 82% of young employees aged between 18 and 22 believe that individuals in employment should start saving for their pensions and retirement before the current default age of 22.The Pensions Management Institute’s (PMI) findings also highlighted that more than six in 10 (61%) think that ...
-
Article46% of UK employers prioritise positive DC pension scheme outcomes
Nearly half (46%) of UK employers with defined contribution (DC) pension schemes say that delivering positive outcomes for members in this scheme is now their top priority, according to research by global professional services firm Aon.Its Better outcomes by design 2022 DC pension scheme and financial wellbeing survey, which surveyed ...
-
ArticleMen underrate women's retirement challenges
Six in 10 women feel older female employees are forced out of jobs by tricky workplace cultures, according to research - but fewer men see the problem.A poll of 960 UK savers by online retirement income provider PensionBee found that 61% of females viewed difficult working environments as a challenge ...
-
ArticleGirls' Day School Trust staff strike in pensions row
Teachers at all 23 schools that are part of the Girls' Day School Trust (GDST) have gone on strike in a dispute over proposed changes to their pensions.The trust wants to move to a flexible, defined contribution scheme, but the NASUWT teachers’ union argued that the changes would mean staff ...