All Pensions articles
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AnalysisHow to review a pensions contribution structure
Source: Andrii-Yalanskyi/Shutterstock Employers should review DC pension contribution structures to keep employee incentive and remuneration packages relevant as well as keep up-to-date with legislation. Contributions may need to be restructured or harmonised to take account of legacy systems, as well as reviewing gender ...
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Case StudiesWolseley Group moves to master trust following pension scheme review
Source: Wolseley Group The Wolseley Group moved its pension to a master trust arrangement following a review of its £230 million defined contribution (DC) scheme. The group, which specialises in plumbing, heating, cooling and infrastructure, has more than 13,000 members in its pension. The organisation switched from ...
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ArticleThe top 10 most read articles between 4 - 10 October 2024
The top 10 most read articles between 4 - 10 October 2024 on employeebenefits.co.uk were: Royal Mail launches collective defined contribution pension plan Employee Benefits Live 2024 welcomes delegates to ExCeL London Employee Benefits Awards 2025 open for entries Tribunal finds employer of former administrator failed ...
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ArticleRoyal Mail launches collective defined contribution pension plan
Source: Shutterstock Royal Mail has launched a collective defined contribution (CDC) pension plan to provide its more than 100,000 employees with a cash lump sum and an income in retirement. Along with the Communications Workers Union (CWU) and Unite CMA, the employer designed and implemented a pension ...
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Article59% of DC pension savers will enter retirement with savings below expectations
Nearly three in five defined contribution (DC) pension savers will enter retirement with savings below expectations or below an adequate level, according to analysis by Phoenix Insights. Phoenix Group’s longevity think tank’s report Tomorrow’s problem? Analysing the future impact of DC pension undersaving is based on responses ...
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ArticleThe top 10 most read articles between 27 September - 3 October 2024
The top 10 most read articles between 27 September - 3 October 2024 on employeebenefits.co.uk were: Tribunal claim over ‘dubious’ birthday leave fails Co-op launches diversity campaign and social mobility, inclusion and belonging strategy NEU teachers in England accept 5.5% pay rise Egress, Adobe Systems and ...
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Article59% of UK millennials struggle to save for retirement due to life stage
Six in 10 (59%) UK millennial employees have admitted that their current life stage means they struggle to save for retirement, compared to 48% of Gen Z and 39% of Gen X staff.
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Article39% of British employees regret not saving into a pension
Almost two-fifths (39%) of British employees regret not saving into a pension, according to research by Shepherds Friendly. The financial services firm’s survey of 2,000 Brits on their knowledge of individual savings accounts (Isas), life insurance and general personal finance, also found that 38% of respondents regretted ...
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ArticleSpring Budget 2024: Chancellor announces new requirements for DC pension schemes
Jeremy Hunt, chancellor of the exchequer, has announced plans for new requirements for defined contribution (DC) schemes.
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Article49% of workers aged 50 and older are phasing into retirement
More than half (55%) of employees said a retirement plan is more important than ever as 49% of workers aged 50 and older have already started phasing into retirement, according to research by global advisory and broking firm Willis Towers Watson (WTW). Its 2024 Global benefits attitudes ...
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ArticleMajority of UK adults have moderate expectations for pension returns
The majority of UK adults admitted they only have moderate expectations for their pension returns, and prioritise stability in their retirement savings over higher-risk investments, a new survey by PensionBee has revealed. The consumer retirement market service’s survey, of both workplace and private pensions, included 1,000 UK ...
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ArticleBuyer's guide to master trust pension schemes
Credit: elina.nova/ShutterstockWhat are master trust pension schemes?Master trusts are defined contribution pension schemes, set up under trust law, which allow multiple employers that are unconnected with one other to participate. Each employer can set its own employer and employee contribution rates and usually has its own named section of the ...
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ArticleA quarter of UK employers think DC pension will provide comfortable retirement
Only a quarter of UK employers think their defined contribution (DC) pension provision will leave their workers with a comfortable retirement, according to research by Willis Towers Watson (WTW). The insurance and financial services firm’s annual Defined contribution pensions and savings report, which surveyed 112 FTSE 350 ...
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Supplier articleHow to boost pension engagement to help your people make better decisions
In the last year, more than one in five UK employees (22%) have had to borrow money from family and friends because of money worries, and a fifth have taken on debt (20%)[1].The impact of rising costs has also meant that 39% of employees think they will never be able ...
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Case StudiesHSB uses pension committee and resources to boost investment confidence
Specialist insurance and inspection business HSB improves employees’ confidence in investment choices through an approach centred around its pension governance committee and providing resources to staff.The organisation has a workforce of 550 UK and Ireland employees. Its committee comprises four appointed members, including external pension advisors and a representative from ...
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AnalysisHow to improve employees’ confidence in making pension investment choices
Choosing a pension provider that offers easily accessible and age appropriate investment education can increase employees’ confidence on the topic. Investment fund choices for employees with specific needs or beliefs ensure wider needs are met. Offering financial guidance and advice, as well as signposting to resources, ...
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ArticleHalf of employers advertise statutory requirements as perks
Almost half UK employers have been touting statutory requirements or basic rights as workplace benefits in their job adverts, according to a new analysis by Rippl. The employee benefits platform looked at employers’ recruitment advertising on the largest job listing sites. It found that 46% of them ...
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ArticleFirst Milk completes £42 million full-scheme pension buy-in
Dairy co-operative First Milk has completed a £42 million full-scheme pension buy-in for its Scottish Milk Retirement Benefits Plan. The transaction, which was carried out with financial services Just Group, secures the benefits of 452 scheme members, of which 292 are pensioners and 160 deferred members. The ...
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Article33% of retirees worry about being unable to meet living costs
One-third of retirees (33%) have concerns about being unable to meet living costs, according to research by Legal and General.Its survey of 1,000 retirees, which was carried out in partnership with the University of Sheffield, found that 38% of retiree respondents fear unexpected expenses during retirement, and 36% are anxious ...
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AnalysisHow to help staff trace and consolidate small pension pots
Credit: Dilok Klaisataporn/ShutterstockNeed to know:Significant amounts of money are tied up in small pension pots, many of which may have been forgotten.The Pensions Tracing Service can help people reconnect with lost pensions.Employers can help staff with this process and engage with pensions more generally.The UK is sitting on a ticking ...