News – Page 74
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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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ArticleTPAS and Citizens Advice to give pensions guidance
The Pensions Advisory Service (TPAS) and the Citizens Advice Bureau will provide pensions guidance to employees from April 2015.The government has announced that TPAS will provide telephone guidance and the Citizens Advice Bureau will provide face-to-face guidance.In July, the government announced in July that its guaranteed guidance on pensions choice ...
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ArticleOne in four employees do not know how much they pay in to pensions
One in four employees do not know how much they contribute to their workplace pension fund, and many are unsure about how much they should be saving for an adequate retirement, according to research by Scottish Widows.The Scottish Widows pensions report, which surveyed 5,200 UK adults, also found that one ...
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ArticleChancellor plans to abolish 55% pension 'death tax'
The Conservative Party and chancellor George Osborne will scrap the 55% tax rate to which pension savings are subject on the death of a scheme member and introduce a new rate of around 20% to allow employees to leave more money to their children.The change will be introduced in April ...
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Article3.4 million Britons rely on employers for retirement advice
Almost one in 10 people (the equivalent of 9% or 3.4 million individuals) will rely on their employers for advice on retirement planning. This figure is up on the 7% recorded in 2013 and 3% in 2010. This latest consumer research from Baring Asset Management (Barings), which surveyed 1,513 employees ...
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ArticleDebbie Lovewell-Tuck: Education to engage staff with savings
Although the government has now confirmed how its guaranteed pensions guidance will be provided to all defined contribution (DC) scheme members, there are questions over whether this will be sufficient to engage staff and help them make appropriate decisions.Last month, research by consultancy Mercer found that 62% of the 300 ...
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Personalised financial education becoming more important
At the end of July, when the government announced that its guaranteed guidance would be provided by independent organisations rather than pension providers, it settled most of the questions that had been circling the industry since the initiative was introduced by Chancellor George Osborne in the March Budget.Before the announcement, ...
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Article62% do not think guidance guarantee will be enough
Nearly two-thirds (62%) of respondents do not think the guidance guarantee announced in the 2014 Budget will provide enough support for members of defined contribution (DC) pension schemes ahead of retirement, according to research by Mercer.Its research, which surveyed more than 300 employers and trustees, found that 38% plan to ...
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Article39% do not have financial plan for retirement
More than a third (39%) of respondents do not have a financial plan for retirement, according to research by Aegon UK.Its Retirement readiness survey, which questioned 16,000 employees in 15 different countries, found that 12% of respondents have a written financial plan for retirement.Less than a third (29%) of UK ...
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ArticleIMG launches personalised financial education
EXCLUSIVE: IMG has launched a financial education programme for its 1,500 UK employees.The global sports, media and fashion organisation introduced the programme during its inaugural Wellbeing Week at its Stockley Park campus at the end of July.The event also included the promotion of the organisation’s employee assistance programme and discounted ...
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ArticleDAC Beachcroft launches financial education
DAC Beachcroft has launched a financial education programme for its 2,000 UK employees.The law firm introduced the programme to provide a more consistent and continual approach to promoting its benefits package, which includes a flexible benefits scheme with an annual enrolment window.Sarah Young, head of HR at DAC Beachcroft, said: ...
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ArticleOnly 26% of UK respondents confident about DC pension savings
Around a quarter (26%) of UK respondents feel confident that they will have enough saved through their employer’s defined contribution (DC) pension scheme to afford the lifestyle they want in retirement, according to research by State Street Global Investors (SSGA).Its research surveyed more than 2,000 respondents aged between 22 and ...
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ArticleDOD’s blog: New world order for working policies
For some months I have been using the term ‘age management’ to describe a new discipline creeping into human resources strategies.Now that staff can work for as long as they want to (or have to), HR professionals are taking stock of their workforce planning strategies, their wellbeing initiatives and how ...
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Live Nation awarded for financial education strategy
Live Nation Entertainment won the award for Best financial education strategy at the Employee Benefits Awards 2014.Read why the organisation was judged to be the best in this category.The Employee Benefits Awards 2014 were held on 27 June 2014 at the Artillery Garden at the HAC London.
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Article33% expect employers will fund workplace financial guidance
A third (33%) of respondents expect that employers will have to fund financial guidance for their entire workforce following the pension reforms announced in the Budget 2014, according to research by Jelf Employee Benefits.Its research, which surveyed more than 200 employers, found that just over a quarter (28%) of respondents ...
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ArticleBuyer's guide to financial education 2014
A well-designed financial education programme can help staff improve their financial literacy and understand how such changes might affect their own financial situation, as well as generally learn how to make their pay go further.Money worries have been a major cause of stress and anxiety for staff throughout the recession, ...