News – Page 82
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Close Asset Management acquires Cavanagh Group
Close Asset Management has expanded its financial education services with the acquisition of Cavanagh Group.Cavanagh Corporate, the firm's employee benefits division, and Close Asset Management's financial education division, will now offer employers benefits reviews, communication, implementation, education and delivery.Jeanette Makings, director of financial education services at Close Asset Management, said: ...
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University of Lincoln introduces financial education sessions for staff
The University of Lincoln is to offer financial education sessions for staff to help them understand and plan for the government's changes to public sector pensions.The university plans to host the sessions, which will teach staff how to manage their finances and retirement savings by making the most of existing ...
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Wealth at Work research: Employers to offer support during retirement changes
The majority (85%) of employers will provide some sort of employer-sponsored support using a combination of communications, financial education and/or advice for staff in response to forthcoming legislative changes, according to the Rethink retirement survey 2011 by Wealth at Work.The removal of the default retirement age (DRA), which will be ...
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Buyer's guide to financial education
Focus on factsWhat is financial education?The aim of financial education is to teach staff money skills. As well as a thorough grounding in employee benefits, such as how pensions and share plans work, workers are taught how to handle other finances, from tax planning to individual savings accounts (Isas). At ...
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MIB Group introduces a stakeholder pension scheme and offers financial advice
MIB Group is to introduce a new stakeholder pension scheme along with independent financial advice for all 87 employees.The new scheme will replace the construction company’s existing stakeholder pension, which had not been taken up by any staff.The company decided a plan with a fixed-fee arrangement would be in the ...
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Employee Benefits Awards 2011: Most effective use of financial education in the workplace
WINNERE.On, Making the Most of your MoneyThe judges loved the way this entrant focused on two key issues within the organisation and encouraged employees to engage with these.E.On’s two main objectives for its financial education strategy were to help employees find support to deal with debt issues and encourage as ...
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Close Asset Management research: Most employers with a low take up of benefits do not offer financial education
Many employers (92%) that suffer from a low take up of benefits do not offer financial education to staff, according to research by Close Asset ManagementThe research, conducted among 2,000 employers in the UK, found that 83% of organisations that suffer from low uptake have not looked at how to ...
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Wealth at Work research: Only 23% of employers think staff are aware of retirement options
Only 23% of employers believe their employees are aware of the various retirement income options that are available, according to research conducted by Wealth at Work. The Rethink Retirement Survey 2011 also showed that 60% of respondents also believe there will be an increased requirement for specialist retirement advice. Jonathan ...
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MetLife research: Employees fail to plan for financial security
Employees are failing to act on fears for financial security by planning for retirement, according to new research by MetLife.Despite the global financial crisis, the MetLife 2011 International Employee Benefits Trends Survey found that many employees across Australia, Brazil, India, the UK and Mexico, under-save, lack retirement planning and irregular ...
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Close Asset Management research: Employers unaware of RDR
Just a third of employers are aware of the implications of the Retail Distribution Review (RDR) and the planned regulatory changes in response to that, according to research by financial education provider Close Asset Management.Although these changes could impact on their benefits packages and benefits providers, 69% of employers said ...
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Grove Corporate Pensions launches retirement options division
Pensions consultant Grove Corporate Pensions has launched a new division, Grove Corporate Retirement Options, to help employees with their retirement options.The service will provide employers with their own information website to help employees understand their options.Mike Ormond, financial adviser and founder of Grove Corporate Pensions, said: “Like it or not, ...
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BGL Group launches financial education programme for staff
BGL Group has launched a financial education programme for its staff.The new Making the most of your money seminars cover areas such as basic financial planning, borrowing, savings and investment, as well as preparing for retirement.Since the scheme's launch in May, 170 employees have signed up for the sessions, which ...
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Heath Lambert and Wealth at Work team up to offer benefits consulting
Heath Lambert and Wealth at Work have teamed up to offer benefits consulting supported by workplace financial education and advice.Employers that sign up for the joint services will have access to Heath Lambert’s new benefits platform, which includes online flexible benefits enrolment and communication of total reward. The platform also ...
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University of Lincoln introduces website for staff to plan retirement
The University of Lincoln has introduced a website to help staff with retirement planning.The site, launched with provider Retirement Education Services in response to the removal of the default retirement age, forms part of the university’s retirement benefits package, which also includes fitness classes at the campus sports centre, pension ...
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Scottish Widows research: More staff seek pension help
The number of people turning to their employer for guidance on their pension is at its highest level in five years at 19%, according to the Scottish Widows UK Pensions Report 2011.The report, which surveyed more than 5,000 people, found the number who turn to friends and family as a ...
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Standard Life research: A quarter of employees are not making full use of benefits
A quarter (25%) of employees are not making full use of their benefits package, according to research from Standard Life.Part of the Insights into Financial Responsibility report which polled 8,500 people, the research also found that 31% of respondents are not confident about their financial security at age 60, while ...
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Lorica changes name and rebrands to reflect increase in services
Employee benefits provider and consultancy Lorica has changed its name to Lorica Employee Benefits and re-branded to reflect the firm's increase in services.In the last two years it has added flexible benefits and actuarial risk divisions to its range of services. Its six core offerings are now: corporate pensions (workplace ...
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McCarthy and Stone launches corporate wrap
McCarthy and Stone has launched a corporate wrap as its new workplace pensions and savings scheme.Hargreaves Lansdown, the provider of the wrap, has conducted a series of presentations and one-to-one meetings with the builder’s staff. Three-quarters of the members of the firm’s group personal pension (GPP) arrangement have switched to ...
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CFEB rebrands as Money Advice Service
The Consumer Financial Education Body has rebranded as the Money Advice Service.The organisation’s free workplace financial education programmes, which have been offered to employers for over four years, will be refreshed, but the content will not change.Stuart Bailey, national partnerships manager at Money Advice Service, said: “The core content will ...
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Ernst and Young softens the blow of pension tax changes
Ernst and Young has developed a strategy to mitigate the impact on high earners of the pensions tax changes taking effect on 6 April.The firm established that just over 40 employees will be affected by the reduction in the annual allowance from £255,000 to £50,000. As an interim measure, Ernst ...