All Pensions articles – Page 101
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ArticleMoog Controls boosts pensions engagement
Moog Controls has boosted pensions engagement by more than 150% through its bespoke financial education workshops.The manufacturer of precision motion controls organisation, which helped design the Wimbledon electric roof, focused its education on helping employees make more informed investment decisions.It ran four interactive pilot workshops, provided by Jelf Employee Benefits, ...
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ArticleNews UK and Sony awarded for pensions quality
Jobs and Business Glasgow, News UK and Sony UK are among the organisations that have been awarded the Pension Quality Mark (PQM) in recognition of the quality of their defined contribution (DC) pension schemes. Sony UK has achieved the PQM Plus award for its scheme’s contribution rates, good governance and ...
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ArticleJohn Lewis appoints DC pension provider
The John Lewis Partnership has appointed Legal and General as bundled administration provider to the defined contribution (DC) section of its pension scheme.The appointment is part of the retailer’s implementation of its new hybrid pension arrangement, comprising both DC and defined benefit (DB) sections.In February, John Lewis announced plans to ...
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ArticleRoffey Park informs staff about pension freedoms
EXCLUSIVE: Roffey Park Institute has informed all 80 employees about the pension changes that came into effect on 6 April.The leadership institute educated staff about the pension freedoms via a verbal summary given by line managers and an internal email.The email, which was sent to staff on 2 April, offered ...
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Article82% of savers positive about pension reforms but worry about risks
More than four-fifths (82%) of employees are positive about the imminent pension reforms which come into effect on 6 April, but many remain worried about the risks attached, according to research by the National Association of Pension Funds (NAPF).Its Understanding retirement research, which surveyed 850 savers aged 55-70, found that ...
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Article63% of staff prefer to manage pensions online
Just under two-thirds (63%) of respondents who belong to a workplace pension scheme would prefer to manage their retirement savings online or via an app, according to research by Aegon.Its survey of 2,000 UK adults, including 1,532 pension scheme members, also found that 64% of respondents would use a facility ...
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Article47% plan to semi-retire
Almost half (47%) of working people plan to semi-retire before finishing their working life completely, according to research by HSBC.Its The future of retirement choices for later life report, which surveyed 16,000 people in 15 countries, also found that 29% of current retirees initially took semi-retirement.The study also found:43% intend ...
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Article32% will not have sufficient pension pot by age 65
Almost a third (32%) of respondents believe they will not have a sufficient pension pot to fund their retirement by the age of 65, according to research by Canada Life Group Insurance. Its research, which surveyed more than 850 employees, found that 14% intend to continue working past the traditional ...
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ArticleTesco agrees pension deficit funding of £270 million
Tesco has agreed a pension deficit funding plan with its trustee for its defined benefit scheme, comprising cash contributions of £270 million per year.The supermarket giant is also consulting with employees on plans to close its defined benefit (DB) pension scheme and replace this with a defined contribution (DC) scheme.Tesco ...
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ArticleAuto enrolment opt-out rates remain low among new recruits
Auto-enrolment opt-out rates have remained low among employees recruited after large employers began complying with the legislation, according to research by consultancy Towers Watson.Its FTSE 350 defined contribution pension survey, which analyses the changes and trends in pension provision among the 350 largest UK-listed organisations, found that the average opt-out ...
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AnalysisHow to review a pensions governance policy
If you read nothing else, read this…A pensions governance policy is key to ensuring employers comply with their workplace pension duties.A governance policy can cover scheme administration, contribution payments, communications and legal issues.Employers should review a governance policy to make sure a scheme provides the best outcomes for members.In January, ...
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AnalysisHow to manage employee-benefits-related risk
If you read nothing else, read this…Employee benefits, such as preventative healthcare programmes, can help to mitigate organisational risks such as sickness absence and workplace stress. But benefits can bring their own risks to an organisation around cost, health and safety and regulation.Employers must be aware of all the risks ...
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Case StudiesPeel Ports Group creates own governance committee
The committee holds quarterly meetings that include input from its pension scheme provider Aegon, as well as its consultancy Aon Hewitt.There are regular items on the agenda that include ensuring the scheme is run effectively, investment management, administration and scheme performance.It measures all elements of good governance against a score ...
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ArticleBuyer's guide to contract-based defined contribution pension schemes
What is a contract-based defined contribution (DC) pension scheme?A contract-based DC scheme is based on contributions from both employers and staff. It can be a group personal pension (GPP), a stakeholder scheme or a group self-invested personal pension (Sipp).What are the origins of contract-based DC pension schemes?Most new DC schemes ...
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OpinionFuat Sami: What abolishing pensions contracting out means for employers
For the best part of 50 years, employees and employers of defined benefit (DB) schemes have been able to contract out of the additional state pension.For employees, this has meant paying a lower rate of national insurance contributions (NICs) and building up less state pension in exchange for an equivalent ...
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ArticleITV's defined benefit pension deficit decreases
ITV’s total defined benefit (DB) pension scheme deficit decreased by nearly £100 million in 2014. The media organisation’s scheme had an aggregate IAS 19 deficit of £346 million to the year ending 31 December 2014, compared to £445 million in 2013.The fall in its deficit reflected pension funding contributions in ...
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ArticleScan Coin UK launches life assurance and auto-enrolment pension
Scan Coin UK has introduced a new group life assurance scheme and workplace pension scheme to comply with auto-enrolment for its 50 UK staff.The supplier of cash handling and money processing equipment organisation will offer a scheme, provided by Portus Consulting, that manages its workplace pension auto-enrolment programme, as well ...
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ArticleClare Bettelley: Pensions re-enrolment is a great time to re-engage staff
Organisations should consider, for example, whether they have appointed the right provider with which to auto-enrol. Has the provider offered the employer the necessary or expected level of support for both the organisation and its employees?Has the provider’s technology coped with employee volumes and opt-out requests? If not, how can ...
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ArticleTrinity Mirror Group to pay £36m to plug pension deficit
Trinity Mirror Group is to pay £36.2 million over the next three years to help plug its defined benefit (DB) pension scheme deficit.The publishing organisation announced the funding arrangements in its Preliminary results report after the scheme’s deficit increased by £49 million last year to £301.2 million.This reflected the impact ...
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Article
Financial disengagement could limit success of pension reforms
Financial disengagement among people approaching retirement could threaten the success of the government’s pension reforms, according to research by the Strategic Society Centre.Its Defined capability: pensions, financial capability and decision-making among retirees research found that among respondents aged 55 to 64, only one in three with defined contribution (DC) pension ...