All Pensions articles – Page 100
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Supplier article
Economic & Investment Insight — Greek expectations
By Lucy O’Carroll and Richard Dunbar, Investment Solutions, AberdeenIn a rational world, from the starting point of Greece as a member of the supposedly irrevocable eurozone, the country and its creditors would come to an accommodation — one that would no doubt bear a very strong resemblance to previous ‘kick ...
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ArticleEmployers undecided on what to do when contracting out ends
Employers with defined benefit (DB) pension schemes facing a scramble to avoid higher national insurance (NI) bills when contracting out ends in 2016 have yet to decide how they will respond, according to research by Towers Watson.Its Cessation of contracting-out research, which surveyed 154 organisations, found that more than two-thirds ...
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Supplier article
Negative yields in Europe: you’ve just got to ‘roll’ with them
By Thomas Laskey, Investment Manager, Fixed Income, AberdeenTimes are tough for investors in Europe at the moment. Expected returns on all investments are low, while negative yields are pervasive in euro government bonds.The numbers might be surprising: currently more than 15 per cent of all nominal eurozone government bonds outstanding ...
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ArticleLufthansa Group pension deficit reaches €10.2bn
The Lufthansa Group’s defined benefit (DB) pension scheme has seen a 41% increase in liabilities since the end of 2014.The deficit of the airline’s scheme reached €10.2 billion (£7.4 billion) at 31 March according to the group’s first quarter earnings report.The organisation has attributed its high pension obligations to falling ...
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ArticleLehman Brothers agrees £675 million pension buy-in
Financial services firm Lehman Brothers has agreed a £675 million buy-in transaction for its pension scheme with insurance firm Rothesay Life, following its application for bankruptcy in 2008.The buy-in has also secured full employee benefits for all members as a result of the settlement between the pension scheme trustees and ...
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ArticleOlympic Airlines insolvency affects pension benefits
The Supreme Court has ruled that Olympic Airlines is unable to enter the Pension Protection Fund (PPF) because it did not have an establishment in the UK during its insolvency proceedings.The case, Trustees of the Olympic Airlines SA Pension and Life Assurance Scheme (Appellants) v Olympic Airlines, relates to the ...
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ArticleTPR issues first escalated auto-enrolment fines
The Pensions Regulator (TPR) has issued its first four escalated auto-enrolment penalties, which range from £50 to £10,000 a day depending on the severity of the breach.The organisations received fixed penalty notices for failure to comply with a statutory notice or specific employer duties.The quarterly bulletin from TPR also found:198 ...
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ArticleEIOPA launches pension stress tests
The European Insurance and Occupational Pensions Authority (EIOPA) has launched a pensions stress test and quantitative assessment on solvency for Institutions for Occupational Retirement Provision (IORPs). The stress tests, which EIOPA started preparing in 2014, will cover both defined benefit (DB) and defined contribution (DC) pension schemes.The first of these ...
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ArticlePension freedoms prompt review of scheme design
Pension schemes have begun to evolve in terms of the member support they provide and and their at-retirement investment design, according to research by The Defined Contribution Investment Forum (DCIF).Its At-retirement solutions for the new pensions era report, based on in-depth interviews with providers behind nine large defined contribution (DC) ...
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ArticleCompliance top issue driving DC pensions
More than half (56%) of respondents say compliance with legislation is their top issue driving their defined contribution (DC) pensions provision, according to research by Towers Watson.Its Fit for retirement report, which surveyed 101 organisations, also found that more than a third (38%) of employers cite their employees’ ability to ...
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ArticleJust 7% are financially prepared for retirement
Less than one in 10 (7%) UK adults are financially on track for their retirement, according to research from Aegon.Its third UK readiness report, which surveyed 4,000 UK adults, also found that nearly two-thirds (62%) of respondents do not feel confident about being able to retire when they want to.The ...
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Case StudiesTelent engages staff with pensions via default investment strategy
Since it was introduced in April 2013, its contract-based defined contribution (DC) scheme has achieved 95% take-up. Telent closed its defined benefit (DB) pension to new members in 2007 and to future accrual in 2012.Telent closed its defined benefit (DB) pension to new members in 2007 and to future accrual ...
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AnalysisWhat to consider when setting up a default investment strategy
If you read nothing else, read this…A default investment strategy should be created to help employees who do not want to make active choices about their pension investment.A strategy should take into account an organisation’s demographics, such as age, likely retirement age and contribution levels.The pension freedoms, which came into ...
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OpinionFreedom and choice: finding the right voice
Key pointsEmployers retain a bond of trust with employees: staff will go to their employer for advice.Anticipate their needs to create a strategy to offer valuable support at a critical time, especially defined contribution (DC) scheme members approaching retirement.The pension revolution has only just begun. The after-annuities era will continue ...
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ArticleHayman Group improves DB pensions administration
Hayman Group has improved its defined benefit pension (DB) scheme administration to help the firm adapt to funding changes. The distiller’s Hayman Limited Retirement Benefits Scheme will implement new technology, provided by pensions actuarial firm Spence and Partners, to use live administration data to calculate actuarial results to help develop ...
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ArticleTata Steel staff to be balloted on pensions strike action
Employees at Tata Steel are to be balloted on industrial action over the steel-making firm’s proposed closure of its defined benefit pension scheme.Trades unins Unite, Community, GMB and the Union of Construction, Allied Traders and Technicians (UCATT) intend to open the ballot for member of the British Steel Pension Scheme ...
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ArticleNew exemptions introduced for auto-enrolment
Employers will no longer have to automatically enrol employees in certain situations due to changes under government draft legislation.Exceptions will be introduced so employers are not required to auto-enrol individuals who are leaving employment, staff who cancel membership of a pension scheme before automatic-enrolment and those with tax-protected status for ...
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ArticlePeople in the South West spend most time in retirement
People in the South West of England are likely to spend the most amount of time in retirement (18.7 years), compared to counterparts in other areas of the UK, according to research by Club Vita, part of Hymans Robertson.The study, which surveyed 1,526 UK adults who have not retired, also ...
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ArticleHalf of savers miss tell-tale signs of pension scams
More than half of pension scheme savers aged over 50 are missing tell-tale signs of potential scams and risky investments, according to research by Zurich.Its survey of 1,011 people in defined contribution (DC) pension schemes found that 38% of respondents would not be suspicious of an unsolicited letter, while 22% ...
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ArticleEmployees keen to cash in or drawdown pension pots
Savers looking to access their pension pots following the introduction of the new pension freedoms on 6 April are more likely to take savings as cash or go into drawdown, according to early analysis by several pension providers.Fidelity Retirement Services found that, from around 200 calls, a quarter of people ...