News – Page 78
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Tim Wells: How can employers offer benefits to suit all generations?
Supporting numerous generations of employees in the workforce (primarily Traditionalists, Baby Boomers, Generation X and Generation Y) is currently a major challenge for HR professionals globally. One size does not fit all.This becomes particularly evident when offering benefits packages because each generation has different needs and priorities. Organisations looking to ...
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Dr Paul Redmond: How can employers offer benefits to suit all generations?
For the first time in industrial history, five generations are rubbing shoulders with each another in the workplace. They share the same work cubicles, chat together over the same water coolers, and mingle with each other in training seminars and awaydays.But don’t let this apparent multi-generational melting pot fool you. ...
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Barclays launches workplace savings product
EXCLUSIVE: Barclays Corporate and Employer Solutions (C&ES) is to launch a workplace savings and financial education product that focuses on the needs of the different generations of employees.Barclays Beyond Benefits brings together consultancy services, traditional employee benefits, share plans, pensions, financial education and banking services in a single online portal.It ...
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Retirement unlikely for 12% of global workers
Nearly one in eight (12%) of respondents think they will never be able to afford to retire fully, according to research by HSBC.The future of retirement report, which surveyed 16,000 people in 15 countries, found that this figure is higher in some countries.In the UK, 19% of respondents expected they ...
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Benefits do not suit multi-generations
The majority (85%) of respondents do not feel their current benefits package offers the flexibility required to suit their needs, according to research by Barclays Corporate and Employer Solutions (C&ES).The Talking about my generation: exploring the benefits engagement challenge report, which surveyed 1,200 UK employees, was commissioned by Barclays C&ES ...
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New pension savers will save less
The amount that the average employee is willing to contribute towards their retirement savings through a pension scheme has dropped by almost a quarter (24%) in the last year, according to research by Scottish Widows.The 2013 Scottish Widows Workplace pensions report, which surveyed more than 5,000 employees, found that, among ...
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Withers launches financial education scheme
Exclusive: Withers has launched a monthly financial education scheme for its employees.The first With… your future in mind session was held on 5 September 2013, covering eligible employees’ Friends Life group personal pension (GPP) scheme.More than 100 of the law firm’s workers attended the session.The next presentation will cover the ...
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DebbieLovewell: Early pension saving is vital
This was closely followed, fairly sensibly I thought, with saving for a property deposit. Pensions and the need to save for retirement didn’t even cross my mind.Maybe if I’d been faced with some of the cold, hard figures spelling out what a difference beginning to save early could make, it ...
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Focus on retirement education for staff
The vast majority (91%) of respondents to the Money Advice Service’s (MAS) The financial capability of the UK report, published in August, believe it is best for individuals to start saving into a pension in their 20s. However, only 28% of respondents currently do so.Close Brothers’ inaugural Trends in wealth ...
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DOD’s blog: let’s stop pensions mis-selling now
The PPI misselling headlines that hit the headlines again this week has got me thinking about workplace pensions.Let’s rewind back to the days when we were being pushed to buy payment protection insurance (PPI) at every turn. Because I had read how bad a product it was, I can remember ...
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One in seven do not plan to retire
One in seven (14%) respondents do not plan to retire, according to research by Baring Asset Management. This is 12% up on the proportion of respondents that said the same in 2012 and the 10% in 2011, according to Barings’ annual research, which surveyed 1,581 non-retired UK adults. The research ...
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Age UK partners L&G to launch pension project nationwide
EXCLUSIVE: Age UK has partnered Legal and General to roll out its Living on the state pension project to employers across the UK.The pension provider worked with Age UK to complete the project in 2012, challenging volunteer employees to try to live off the state pension. For every employee who ...
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Jelf launches annuity service as standalone product
Jelf Employee Benefits is launching its whole-of-market annuity-broking service as a standalone product.The Retirement Income Finder is already available to its existing pension and financial-planning clients, but will now be rolled out to the wider market as a standalone product.The service encourages pension scheme members to select the most appropriate ...
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Most Britons think 20s is ideal time to start pension savings
The majority (91%) of respondents believe it is best for individuals to start saving into a pension in their 20s, according to research by the Money Advice Service.The financial capability of the UK report surveyed more than 5,000 people and followed 72 families closely for a year to provide a ...
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A third unconcerned about funding retirement
One-third (33%) of respondents who are at retirement or are looking to retire in the future are unconcerned about funding their retirement, according to Close Brothers Asset Management.Its inaugural Trends in wealth report: Road to retirement, which surveyed more than 1,000 UK adults with gross household incomes of £70,000 or ...
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NAPF looks to develop at-retirement services
The National Association of Pension Funds (NAPF) has issued a call for expressions of interest (EOI) on the provision of at-retirement services for those saving in defined contribution (DC) pension schemes.The NAPF is interested in working with advisers, brokers and other parties active in the at-retirement market to develop solutions ...
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JP Morgan increases mortgage advice
EXCLUSIVE: JP Morgan has increased the number of mortgage advice sessions it offers its 14,500 UK employees.The benefit, which was added to the investment bank’s flexible benefits scheme, Elements, from 1 April 2013, is provided by mortgage broker Charles Cameron and Associates.Adam Brooke, employee benefits manager (UK) at JP Morgan, ...
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Employers do not see need to invest in retirement education
Almost three-quarters (72%) of respondents do not see the need to invest in retirement education for employees, according to research by Jelf Employee Benefits.Its research, which questioned 124 employers, found that only 28% of respondents think that the removal of the default retirement age (DRA) will lead to an increased ...
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Zurich enhances corporate savings website
Zurich has launched a revamped information website for members of its corporate savings schemes.The site is designed to help members save towards their retirement and manage other savings products, such as individual savings accounts (Isas) and investment accounts.It includes videos, calculators, animations, tools and guidance to help members understand the ...
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DOD's blog: Becoming a bond fundi over pasta funghi lunch
Did you know that the announcement by the USA’s Federal Reserve a few weeks ago to withdraw quantitative easing took a healthy slice of money off the retirement savings pots of UK pension scheme members?No?Me neither. Until I was enlightened to the fact by the lovely Laith Khalaf, head of ...