News – Page 96
-
Article
FTSE pension schemes invest mainly in equities
More than three-quarters (79%) of average asset allocations for FTSE 100 and FTSE 250 defined contribution (DC) pension schemes are in equities, according to research by asset management firm Schroders.The DC default research, which looked at 16 FTSE 100 companies and nine FTSE 250 companies, found that global equities, including ...
-
Article
OECD publishes report on DC pensions
The Organisation for Economic Co-operation and Development (OECD) has published a report summarising the challenges that policymakers face around defined contribution (DC) pension schemes.The OECD Roadmap for the good design of DC pension plans, recommends key improvements that can help ensure DC pensions deliver the incomes that individuals need to ...
-
Article
Friends Life launches auto-enrolment product
Friends Life has launched an auto-enrolment product that includes an online hub, a suite of employee communications and a range of default investment options.The hub will:Enable employers to enroll jobholders into a new or existing Friends Life pension scheme, or a combination of both.Decide which employees are eligible for scheme ...
-
Article
Social investment fund is most popular default
More than three-quarters (77%) of respondents would prefer to contribute to a social investment fund rather than a conventional fund when selecting the default fund for a defined contribution (DC) pension scheme, according to research by Standard Life Investments.Its research, Identifying new ways to engage with savers in defined contribution ...
-
Article
PQM rolls out communication guide
The Pension Quality Mark (PQM) has launched a new guide to help organisations communicate more effectively with their employees about pensions.The free guide is the first guidance document published by PQM, which was founded by the National Association of Pension Funds in 2009, and aims to tackle the issue of ...
-
Article
Pilkington Glass to close DB scheme to future accrual
Pilkington Glass is to close its defined benefit (DB) pension scheme to future accrual and move its 1,489 members into the organisation’s group personal pension (GPP) plan.The manufacturer has paid £120 million in additional contributions into the Pilkington Superannuation Scheme (PSS) over the past four years. However, the cost of ...
-
Article
DOD’s blog: can pensions people speak HR?
For the past few days I have been staying in the friendly climes of Edinburgh immersing myself in all things pensions investment, not least at the NAPF Investment Conference.While here, I have met up with all the leading pension providers based here (and Edinburgh does have more than its fair ...
-
Article
University of Edinburgh rolls out Nest
EXCLUSIVE: The University of Edinburgh is to introduce a defined contribution (DC) pension scheme on 1 March 2013 as part of its auto-enrolment compliance duties.The university will roll out the national employment savings trust (Nest) to its 12,300-strong workforce.To comply with auto-enrolment requirements, the university will contribute the minimum of ...
-
Article
ITV defined benefit pensions deficit rises
ITV’s total pension deficit has increased by £161 million since December 2011.Its defined benefit (DB) pension schemes had an aggregate IAS 19 deficit of £390 million at 31 December 2011. This had risen to £551 million at 31 December 2012.In its Preliminary results 2012, the media organisation attributed the deficit ...
-
Article
Reading Transport switches pensions adviser
Reading Transport has switched advisers for the actuarial and administrative services of its final salary pension scheme.The £26-million scheme, which has 500 members, will now be advised by Punter Southall.Greg Chambers, finance director at Reading Transport, said: “We engaged Punter Southall to provide actuarial and administrative services for our defined ...
-
Article
Auto-enrolment prompts benefits reviews
More than a third (38%) of respondents are likely to review their organisation’s benefits package at the same time as complying with auto-enrolment legislation, according to research by Aviva.Its second Working lives report, which surveyed 760 private sector employers, found that, over the next 12 months, 63% of respondents will ...
-
Article
Royal Institution of Chartered Surveyors selects auto-enrolment system
The Royal Institution of Chartered Surveyors (RICS) has selected a technology system to enable it to comply with its auto-enrolment duties.The society, which employs more than 650 staff worldwide, has chosen cloud-based software from Fairsail. The product is designed to link in with existing Hr and payroll systems, as well ...
-
Article
Hargreaves Lansdown launches integrated workplace benefits system
Hargreaves Lansdown has launched an integrated corporate wrap and flexible benefits system.The workplace benefits system integrates Hargreaves Lansdown’s Corporate Vantage investment platform, which includes a pension, a cash individual savings account (Isa), a stocks and shares Isa and an investment account; with flexible benefits technology provided by Staffcare.The system, which ...
-
Article
33 new international pension plans established in 2012
Thirty three new international pension plans (IPPs) were established in 2012, according to research by consultancy Towers Watson.Its annual International pension plan survey, found the total number of international plans managed by 391 responding employers now totals 403.The survey also found that international pension plans are being developed within multi-country ...
-
Article
Helen Duncan: Middleware is key to auto-enrolment technology
KEY POINTSOrbit is 100% automated and manages the entire auto-enrolment process.The system provides employees with access to an auto-enrolment helpdesk, including a telephone helpline.Orbit stores all auto-enrolment activity for audit purposes.The cornerstone of any successful benefits solution is always expert consultancy, and technology should allow that consultancy to be put ...
-
Article
Randstad launches multi-employer trust
Randstad is to launch a multi-employer trust to comply with its auto-enrolment duties.The recruitment firm will reach its staging date on 1 March 2013, when its 20,000 eligible agency workers will be auto-enrolled.The scheme will be provided by Now: Pensions.Ian Naylor, legal director at Randstad, said: “Our decision to appoint ...
-
Article
Pension scheme membership falls
Workplace pension scheme membership dropped to 46% in 2012, according to research by the Office for National Statistics (ONS).Its 2012 Annual survey of hours and earnings: summary of pensions results, compiled before the introduction of auto-enrolment in October 2012, found that pension scheme membership hit a 15-year low in 2012.The ...
-
Article
Most DB pensions have long-term objectives
The majority (90%) of defined benefit (DB) pension plans now have a long-term objective, compared to 60% in 2009, according to research by Aon Hewitt.Its Global pension risk survey 2013 polled 220 UK DB plans with combined membership of more than three million people and representing around £300 billion of ...
-
Article
Jamie Fiveash: Software support is vital for auto-enrolment
KEY POINTSThe B&CE Employer Assistance Program is designed to ensure employers make the right contributions and enable them to download employee communications.The Employer Assistance Program is one of a range of tools B&CE provides to help employers comply with auto-enrolment.To date, 130 of B&CE’s existing and new, larger employer customers ...
-
Article
Lynn Graves: All-in-one platforms can handle auto-enrolment
KEY POINTSScottish Widows’ AssistMe enables employers to manage their workforce’s pensions through a single interface, which can be integrated with their own systems.Professional advisers can access AssistMe to help manage employers’ compliance requirements.There is no extra cost for AssistMe; it is part of Scottish Widows’ pension administration services.Scottish Widows launched ...