All Pensions articles – Page 105
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Article96% foresee changes to state pension
Just 4% of financial advisers believe the state pension will continue in its present form over the next 30 years, according to research by pension provider Aegon UK.Its survey of 208 financial advisers found that almost half (49%) of respondents that think there will be changes to the current system ...
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ArticleBovis Homes' DB pension scheme moves to £9.8m surplus
Bovis Homes’ defined benefit (DB) pension scheme has moved from a deficit of £0.7 million to a surplus of £9.8 million, its first half 2015 interim results revealed.The housebuilding organisation’s DB pension scheme assets rose to £111.8 million from £103.4 million in the six months to 30 June 2015.Its scheme ...
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Article40% want pensions to be taxed like Isas
Some 40% of respondents want pensions to be treated in a similar manner to individual savings accounts (Isas) because they would prefer to be taxed while working rather than in retirement, according to research by PricewaterhouseCoopers (PWC).The survey of 1,197 working UK adults, published in August 2015, also reveals that ...
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ArticleJust Retirement and Partnership Assurance to merge
Just Retirement Group and Partnership Assurance Group are to merge to create JRP Group.The boards of the two annuity providers have agreed on the terms of a recommended all-share merger. Just Retirement shareholders would own a 60% stake in JRP Group, with Partnership Assurance owning the remaining 40%.In addition to ...
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ArticleEmployers paid £7bn towards DB pension deficits in 2014
Respondents paid £7 billion towards their defined benefit (DB) pension deficits in 2014, according to research by Barnett Waddingham.The research, which is based on publically disclosed pension accounts from 218 FTSE 350 organisations, also revealed that aggregate pension deficits have reached their highest level in five years, and employee pension ...
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Video
Auto-enrolment: The journey so far and the challenges ahead
// The three-minute video tutorial above covers:What are the challenges of auto-enrolment?How can employers choose a suitable pension scheme for employees?How can employers ensure ongoing compliance?What stance will The Pensions Regulator be taking on enforcement?What is the difference between software and ...
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Article59% believe they do not require pensions advice
Over half (59%) of respondents believe they do not require pensions and retirement advice when planning to make a withdrawal from their pension pots, according to research by Money.co.uk.The study, which surveyed 669 over 55-year-olds with a pension, also revealed that just one in five (20%) of respondents that are ...
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ArticleMicrosoft US enhances benefits package
Microsoft US is to enhance its parental, holiday and 401(k) pension benefits.The technology giant, which employs 59,853 staff in the US, is introducing its enhanced benefit offerings with the aim of fostering a supportive workplace culture that embraces diversity and inclusion. An enhanced parental packageFrom November 2015, its US-based staff ...
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ArticleVolkswagen launches pension sessions for staff
EXCLUSIVE: Volkswagen has introduced educational classes about the pension freedoms for its 960 UK staff.The classes were designed following the pension flexibilities, which were first announced in the 2014 Budget. The first session was launched at the end of June 2015, with more seminars planned for September and November.The organisation ...
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Article20% would save more than auto-enrolment default
One-fifth (20%) of respondents would increase the amount they contribute to their pensions beyond the minimum auto-enrolment contribution rate, according to research by Aegon.Its research, which is based on a sample size of 4,000 respondents, found that just 6% consider the 2018 default contribution rate of 5% to be unaffordable.Nearly ...
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Article81% of staff in their 30s contribute to workplace pensions
More than four-fifths (81%) of respondents in their 30s contribute to a workplace pension compared to 72% of those in their 40s, according to research by asset management firm Fidelity Worldwide Investment.Its study, which surveyed 1,000 UK adults aged 30-49 in June 2015, also revealed that a greater number of ...
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ArticleAxa closes £2.8 billion DB pension longevity swap
Axa UK Group Pension Scheme has closed a longevity swap for its defined benefit (DB) pension scheme with Reinsurance Group of America.The longevity swap transaction covers £2.8 billion of pension liabilities and provides long term protection against costs resulting from pensioners living longer than initially expected, hence enhancing security for ...
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ArticleAsda appoints pension scheme actuary
Asda has appointed Aon Hewitt as actuarial adviser to the Trustees of the Asda Group pension scheme.The retailer, which is part of Walmart, has 13,500 members in its defined benefit (DB) pension scheme.Trustees of the scheme have chosen Aon Hewitt to be the actuary of the scheme.
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Case StudiesWelcome Break plans for smooth pensions re-enrolment
The motorway service operator began planning for its initial auto-enrolment six months prior to its staging date in June 2013, and found that by working with advisory service Aspira it was able to ensure a relatively smooth operation once the first contributions were made.Welcome Break operates two pension schemes for ...
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AnalysisWhat opportunities does pensions auto-re-enrolment bring employers?
If you read nothing else, read this…At the auto-re-enrolment stage, employers will need to re-enrol eligible staff into a pension scheme.It is an ideal opportunity for employers to review the systems and processes they have in place for auto-enrolment, as well as looking at the support they receive from their ...
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ArticleNest appoints new chief executive officer
Nest Corporation has appointed Helen Dean chief executive officer.Dean (pictured) is currently executive director, product and marketing at Nest.She will take up her new position this autumn, succeeding existing Nest chief executive, Tim Jones.Otto Thoresen, chair of the National Emp[loyment Savings Trust (Nest), said: “It’s fantastic news that we have ...
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ArticleOne million calls to insurers in month after pension freedoms
An announcement published by the Financial Conduct Authority (FCA) yesterday (1 July), states that over one million calls to insurers were made in the first month of the pension freedoms being in place. This represents an 80% increase year-on-year, and a significant rise in activity since the pension reforms came ...
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Article£1.8 billion withdrawn in first two months of pension freedoms
Almost a quarter of a million payments worth £1.8 billion were made to consumers from pension pots in April and May following the introduction of the pension freedoms, according to research from the Association of British Insurers (ABI).The data reveals that £1.3 billion was put in to buying nearly 22,000 ...
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Article26% of older workers do not want education on retirement issues
Around a quarter (26%) of respondents between the ages of 56-65 do not want any financial education on retirement and pensions issues, according to research by financial solutions organisation Partnership.The research, which surveyed 2,000 people over the age of 21, also found that 18% of 21-30 year olds did not ...
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Article61% to work past target retirement age if savings are insufficient
Around two-thirds (61%) of UK employees plan to continue working if they have not saved enough by their target retirement age, according to research from Aegon.The study, which surveyed 4,000 UK adults, also found that 64% of respondents are not confident about retiring at their target age of 63.The research ...