News – Page 75
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49% are satisfied with their benefits package
Nearly half (49%) of employee respondents are satisfied with their benefits packages, according to research by Thomsons Online Benefits.The role of benefits in retaining and protecting your best talent report, which surveyed more than 450 organisations representing more than 1.2 million employees, found that 29% of employee respondents felt they ...
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Employers must help manage employees' retirement expectations
For example, more than half (53%) of the respondents to Aon Hewitt’s Global benefits attitudes survey admitted they needed to save more for their retirement, while 90% of UK employees who responded to the Aegon UK Readiness report said they are falling short of their retirement targets.Meanwhile, more than a ...
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47% believe employer should play role in retirement planning
Nearly half (47%) of employees believe their employer should play a role in helping them to prepare for retirement, according to research by Barclays Corporate and Employer Solutions (C&ES).Its Steps towards a living pension report, which surveyed 2,000 employees who are paying into a defined contribution (DC) pension scheme, found ...
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41% do not understand retirement saving following Budget changes
More than a third (41%) of respondents admitted not understand retirement saving following the pension changes announced in the 2014 Budget, according to research by Ros Altmann (pictured) and sponsored by MetLife.The Flexibility in retirement – planning for change report, which conducted two separate surveys, among 2,531 working adults in ...
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ABI and NAPF call for guidance guarantee details
The Association of British Insurers (ABI) and the National Association of Pension Funds (NAPF) have written to the government urging it to make some quick decisions to ensure its financial guidance guarantee, part of the pension reforms announced in this year’s Budget, can be delivered in time to meet the ...
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63% believe pre-retirement information needs improvement
Almost two-thirds (63%) of respondents believe that pre-retirement information needs improvement and should be an urgent priority for the next six months, according to research by Equiniti.Its research, which surveyed 40 annuity providers and pensions experts, found that a further 26% believe it needs to be improved within a year.Nearly ...
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33% would not value retirement advice
A third (33%) of respondents aged 55 or over who have not yet retired would not value financial advice when they retire, according to research by MGM Advantage.Its research, which surveyed more than 2,000 UK adults aged 55 or over, found that 38% of respondents have never sought advice about ...
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Financial stress impacts work productivity
Nearly a quarter (22%) of employee respondents said the stress of their current financial situation impacts negatively on their work productivity, according to research by Sodexo Benefits and Rewards Services.Its Financial stress is impacting productivity for nearly a quarter of UK employees survey, which questioned 398 employers and 760 UK ...
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10% believe employers care about their financial wellbeing
Only 10% of employee respondents believe their employer is concerned about their financial wellbeing, according to research by Barclays Corporate and Employer Solutions (C&ES).Its Financial wellbeing: the last taboo in the workplace? research, which surveyed more than 2,100 UK employees and 100 employers, found that more than two-thirds (69%) of ...
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Imagination staff increase pension contributions
EXCLUSIVE: Imagination has seen almost a quarter (23%) of its pension members increase their contributions after the launch of a workplace savings platform.The platform is provided by Hargreaves Lansdown and offers staff access to a group self-invested pension plan (Sipp), a cash individual savings account (Isa), a stocks and shares ...
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16% view retirement saving as top priority
Just 16% of respondents said saving for retirement was a top financial priority, according to research by Capita Employee Benefits.Its second Annual employee insight report, which is based on interviews with more than 3,000 UK employees, found that 52% of respondents would be willing to save into a pension if ...
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UK annuities market could drop by 75%
The UK annuities market could decline by up to 75% after the government’s changes to compulsory annuity purchase come into effect from April 2015, according to research by PricewaterhouseCoopers (PWC).Its research, which questioned 1,208 respondents aged 50 to 75 who are looking to take their pension in the near future, ...
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DOD’s blog: What employers are doing about the changes to pensions
Over the past few weeks, I have had several industry people ask me how employers are reacting to the announcements made in the Budget last month, in particular, in relation to the withdrawal since 27 March of the need for retiring staff to buy an annuity.There seems to be the ...
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Most talked-about news on the website
Fujitsu UK and Ireland rolled out a flexible retirement policy in April, which enables employees over the age of 55 to reduce their working hours in the two years before their chosen retirement date with only a partial reduction in pay.“This is really innovative and also an intelligent approach to ...
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AT&T and Kodak shortlisted for financial education
AT&T, Kodak and Live Nation are among the employers that have been shortlisted for the award ‘Best financial education strategy’ at the Employee Benefits Awards 2014.For this award, the judges were looking for employers that have taken a proactive approach to their workforce’s financial needs and have supported staff in ...
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Fujitsu launches flexible retirement
EXCLUSIVE: Fujitsu UK and Ireland has launched a flexible retirement policy.The new policy enab;es employees over the age of 55 to reduce their working hours in the two years prior to their chosen retirement date with only a partial reduction in pay.Paula Evans, head of pensions and benefits, UK and ...
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77% believe in benefits of financial education
EXCLUSIVE: More than three-quarters (77%) of respondents believe financial education in the workplace is helping employees to achieve better financial outcomes, according to research by financial education provider Nudge Global.The financial education provider’s Employee financial education study 2014, which questioned more than 170 organisations that represent more than 850,000 employees, ...
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62% in favour of flexibility around pensions
Nearly two-thirds (62%) of UK workers believe giving people more choice and flexibility around how they take their retirement income is a good idea, according to research by Aviva.Its research, which surveyed 1,500 UK employees, found that 80% of respondents were aware of the retirement income changes announced by the ...
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Life Planning Association launched
A new national professional body has been launched to support employers and employees in life and retirement planning. The Life Planning Association has been formed because of the current challenging circumstances of an ageing population, changes in pension schemes, state benefit reforms and longer working lives.It will aim to influence ...
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Just 13% think staff save enough for retirement
EXCLUSIVE: Just 13% of respondents believe their employees are saving sufficiently for retirement, according to research by Wealth at Work.Its Generating income in retirement 2013 report, which surveyed 104 employers, found that only 14% of respondents are aware of the various retirement income options.Nearly two-thirds (65%) of respondents believe their ...