News – Page 71
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ArticleParliamentary committee urges Pension Wise improvements
The government should publish, and require providers to publish, take-up statistics for the Pension Wise service and the advice and pensions markets on a quarterly basis, according to a report by the Work and Pensions Committee.Its Pension freedom guidance and advice report has deemed the government’s reticence on publishing figures ...
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ArticleKingfisher develops pensions app to engage staff
NAPF 2015: Retail group Kingfisher has developed a brand-specific app to engage its 36,000 staff who are members of the Kingfisher pension scheme.The employer’s communications and financial education strategy around pensions began as a way of informing its staff about auto-enrolment, explained Dermot Courtier, head of group pensions at Kingfisher, ...
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Article
15: Close Brothers Industry Insight: Getting the balance right for retirement savings
The combination of longer lifespans and new pension freedoms has turned the way we need to plan for retirement on its head.The freedom and choice reforms are now tearing up the traditional covenant between the government and savers. For generations, pensions have been structured as ‘a double-edged incentive’; in return ...
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Article68% favour initial tax relief on pensions
More than two-thirds (68%) of respondents are in favour of retaining some level of initial tax relief for pension contributions, according to research by Jelf Employee Benefits.The 2015/16 Jelf Employee Benefits survey found that, from an employer perspective, 27% of respondents do not want to see any change to the ...
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ArticlePensions research deadline extended
The Employee Benefits/Close Brothers Pensions research 2015 deadline has been extended to Wednesday 30 September so there is still time to have your say.How are the pension reforms impacting workplace pension strategies? How are employers communicating the pension changes to staff? Share your experiences by taking part in the short ...
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Article82% want benefits to reflect their priorities
EXCLUSIVE: More than four-fifths (82%) of respondents believe their benefits package should change as their personal circumstances and priorities do, according to research by Davidson Asset Management (DAM).Its survey of 439 employees, directors and business owners, which is featured in its Employee benefits: 2035 report, also found that 87% of ...
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ArticleWealth at Work acquires Life Academy
Financial education provider Wealth at Work has acquired Life Academy, a Wales-based provider of financial education and employee engagement programmes.The acquisition aims to expand Wealth at Work’s presence in the market, particularly in light of the increased demand for pre- and at-retirement financial education triggered by the pension reforms.Jonathan Watts-Lay ...
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ArticleHeineken and Virgin Media communicate pension changes to staff
Employee Benefits Live 2015: Heineken and Virgin Media have adopted a continuous communications approach to inform staff about the pension reforms.Speaking at a conference session on the effect of the latest general election on workplace pensions at Employee Benefits Live 2015, David Roberts, head of pensions and benefits at Virgin ...
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ArticleEmployers must align financial wellbeing to reward
Employee Benefits Live 2015: Employers need to align their financial wellbeing scheme to their total reward programme in order to engage the workforce of tomorrow, according to Ian Hodson (pictured), reward manager at The University of Lincoln.Speaking at a session at Employee Benefits Live 2015, ’Educating your workforce to take ...
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ArticleTake part in exclusive pensions research
How well do your employees understand the pension reforms? What financial education strategies are you using to support staff?Tell us in the exclusive Employee Benefits/Close Brothers Pensions research 2015, which is designed to help you benchmark your organisation’s pensions strategy.We are particularly interested in finding out how the pension reforms ...
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Article
Financial education in practice
https://player.vimeo.com/video/136815856The nine-minute video tutorial above covers:How should employers respond to pension reforms?What late career support should employers offer?What should employers consider around early career support for staff?What should employers take into consideration around whole-of-career support?Which groups will require special support?What do employers need to know about guidance and advice?To watch ...
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Article11% of over-60s have no plans to retire
More than one in ten (11%) respondents over the age of 60 who have not yet retired do not plan to ever do so, according to research by annuity provider Retirement Advantage.Its survey of 1,009 adults, conducted for Retirement Advantage by YouGov, also found that 6% of over 50s that ...
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Article32% unclear about Pension Wise service
Almost a third (32%) of respondents are unclear about the service Pension Wise can provide to employees, according to research by Close Brothers Asset Management.Its survey of 700 employers found that 29% do not know who their employees are turning to for information around the pension reforms.The study also found:13% ...
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ArticleGovernment launches financial advice review
The government has launched a major UK-wide review to examine how financial advice could work better for consumers.The Financial Advice Market Review will look at all types of retail financial products, including pensions, insurance, savings and mortgages.The review will consider ways to encourage people to seek financial advice and to ...
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ArticleVolkswagen launches pension sessions for staff
EXCLUSIVE: Volkswagen has introduced educational classes about the pension freedoms for its 960 UK staff.The classes were designed following the pension flexibilities, which were first announced in the 2014 Budget. The first session was launched at the end of June 2015, with more seminars planned for September and November.The organisation ...
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ArticleABInBev introduces financial education
EXCLUSIVE: ABInBev, the world’s largest brewer, has introduced a financial wellness programme for its 1,000 UK employees.The organisation, which owns brands such as Stella Artois, Budweiser and Corona, will be launching the financial education programme at events at four ABInBev sites, including its UK headquarters in Luton.The events, which will ...
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ArticleBuyer's guide to financial education 2015
What is financial education?Workplace financial education involves employers, or a third-party provider, educating employees about financial benefits, such as pensions and share plans. It can also include individual savings accounts (Isas) and tax planning, and how to use these perks to optimise their financial wellbeing.Financial education can be delivered to ...
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Article26% of older workers do not want education on retirement issues
Around a quarter (26%) of respondents between the ages of 56-65 do not want any financial education on retirement and pensions issues, according to research by financial solutions organisation Partnership.The research, which surveyed 2,000 people over the age of 21, also found that 18% of 21-30 year olds did not ...
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ArticleCarlsberg UK introduces financial education
EXCLUSIVE: Carlsberg UK has introduced a financial education and wellness programme for its 900 employees in an attempt to develop their overall wellbeing.The brewing firm already has an employee wellness programme in place, which includes health checks and assessments and health insurance. It has now added financial education to complete ...
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ArticleOracle revamps financial education programme
EXCLUSIVE: Oracle has revamped its financial education programme for its 5,800 UK employees.The technology firm opted to revamp its financial education programme and introduce pensions advice to counteract the challenges surrounding the ageing workforce.To highlight the importance of the programme, which is provided by Secondsight, Oracle introduced a strategic email ...