All Pensions articles – Page 104
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ArticlePension reforms increase retirement engagement
The new pension flexibilities, which are due to come into effect in April, are resulting in more people becoming switched on to retirement planning, according to research by the National Employment Savings Trust (Nest).Its Nest insight 2015 report, which surveyed a representative sample of 2,000 workers, found that approximately a ...
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ArticleUK retirement savings hit by economic downturn
More than two fifths (41%) of UK employee respondents stopped or reduced their retirement savings during the economic downturn, according to research by HSBC.The bank’s survey of more than 16,000 people globally found that despite signs of recovery, retirement saving has been, and continues to be, significantly impacted by the ...
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ArticlePension freedoms popular with DC savers
The new pension freedoms are popular with employees who have a defined contribution (DC) pension, according to a report published by the Pensions Policy Institute (PPI).Its Supporting DC members with defaults and choices up to, into, and through retirement: qualitative research with those approaching retirement report revealed that two-thirds (66%) ...
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ArticleCity Link staff face non-payment of December pension
City Link will not be able to provide employees with their December pension payments after going into administration on 25 December.The courier’s workforce received defined contribution (DC) pension payments of £1,041 per calendar month, but will not receive the December bill due this month.A spokesman from City Link said: “City ...
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ArticlePensions minister sets out pot follows member change
Pensions minister Steve Webb has confirmed changes to the government’s plans for automatic transfer reforms for its pot follows member project, which will see it initially rolled out on an opt-in basis.This is a short-term rethink of the government’s original long-term plan that relevant pension pots will be automatically transferred ...
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ArticleLess than half of employers provide at-retirement support
Less than half (45%) of respondents provide staff with support at retirement, according to research by Close Brothers Asset Management.Its study of 218 UK employers also found that the most popular way of supporting employees at retirement is through workplace seminars (26%), while 23% of respondents provide access to information ...
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Analysis
What are employers' primary concerns around April's pension reforms?
This 10-minute video above covers:Why the new pension reforms are driving the need for employee guidance Which pensions decisions staff struggle with the mostHow employers can support staff to overcome these challenges How employers can overcome any fears they have about straying into the realms of advice when attempting to ...
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ArticleManchester Airports prepares for pension flexibilities
Manchester Airports Group has updated its defined contribution (DC) pensions administration to address the ongoing freedom and choice pension reforms. The organisation will now offer member administration and member technology services to engage employees with the new pension changes, which come into force in April 2015.The programme will also include ...
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ArticleEmployers offer flexible working to support ageing workforce
Over a quarter of employers (27%) have introduced flexible-working initiatives to meet the needs of their ageing workforce, according to research by Group Risk Development (Grid).The group risk employer research study, which surveyed 500 UK businesses and 1,000 employees, also found that 19% of employers are modifying roles and 16% ...
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ArticleCitizens Advice names guidance delivery sites
The Citizens Advice Bureau has named its first 44 sites that will deliver face-to-face sessions as part of the government’s guidance guarantee, Pension Wise. People will be able to book guidance appointments at any Citizen Advice office but will have to travel to a designated delivery centre for the session ...
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ArticleEmployers yet to take action on pension reforms
Nearly three-quarters (70%) of employer respondents have yet to take ation around the pension reforms that come into force from April 2015, according to research by Jelf Employee Benefits.Its research, which surveyed 250 employers, also found that only 7% of respondents have both reviewed their offering and sent employee communications ...
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Article
70% want to use pension pot as retirement income
The majority of employees approaching retirement want to use their pension pots to deliver a secure guaranteed income, according to research by the International Longevity Centre.Its Making the system fit for purpose report, which surveyed 5,000 people aged 55 to 70, found that 70% of respondents with a defined contribution ...
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ArticleNearly half of over-50s want to keep working post 65
Almost half of employees (48%) over the age of 50 want to keep working between the age of 65 and 70, according to new research from the Department for Work and Pensions (DWP).The independent YouGov study, which surveyed more than 2,000 retired and non-retired people aged over 50, also revealed ...
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ArticleFinancial Education report 2015
View all stories from the report below:Jonathan Watts-Lay: Three steps to freedomNew flexibilities in pension access increases the need for workplace financial education.Financial education in numbersA round-up of the latest facts and figures about financial education.Andrea Finney: Helping to ease the burdenThere are a number of steps employers can take ...
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Article?MacDermid Canning completes DB pension buyout
MacDermid Canning has completed an insurance buyout of its defined benefit (DB) pension scheme.The bulk annuity for the global speciality chemicals organisation’s scheme, which has 670 members, amounts to £50 million.Aon Hewitt and Eversheds were appointed to advise on the deal and the Pension Insurance Corporation was appointed to secure ...
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ArticleIkea to pay €200m performance bonus into pensions
Ikea Group has handed its employees a share of a €200 million (£156.94 million) bonus in to their pension schemes after hitting pre-agreed global sales targets.The €200 million bonus will paid via its loyalty programme, Tack!, which launched in December 2013 to reward employees who have worked with the home ...
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ArticleChancellor confirms plans to scrap pensions death tax
Autumn Statement 2014: From April 2015, beneficiaries of individuals who die before the age of 75 with remaining uncrystallised or drawdown defined contribution pension funds, or who have a joint life or guaranteed-term annuity, will be able to receive any future payments from these policies tax free.These changes, which will ...
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ArticleGovernment to simplify auto-enrolment legislation
The government has launched a consultation outlining its plans to simplify the auto-enrolment process and help reduce burdens on employers.A Department for Work and Pensions (DWP) consultation, Technical changes to automatic-enrolment: consultation on draft regulations, sets out a number of changes to legislation designed to make life easier for all ...
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ArticleFirefighters stage further strike over pensions proposals
Firefighters in England are taking further industrial action over pensions today (9 December) following the government’s decision to commence the Parliamentary procedure to implement regulations for a revised pension scheme. The 24-hour walkout began at 9am this morning.After nearly three years of negotiations, firefighters in England are being offered a ...
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ArticleCompetition in retirement market is not working
A failure by many consumers to shop around or switch provider to get the best annuity deal proves that competition in the retirement market is not working as well as it could be, according to research by the Financial Conduct Authority (FCA).The regulator’s Retirement income market study, which examined products ...