All Pensions articles – Page 107
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ArticlePeel Ports Group awarded Pension Quality Mark Plus
Peel Ports Group has been awarded the Pension Quality Mark Plus (PQM Plus) in recognition of the quality of its enhanced defined contribution (DC) pension scheme.The PQM, which was launched by the National Association of Pension Funds (NAPF) in 2009, recognises employers that offer pension schemes with good-quality governance and ...
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ArticleThomas Miller and Wolseley awarded Pension Quality Mark
Professional service firm Thomas Miller and heating and plumbing organisation Wolseley are among the latest employers to be awarded the Pension Quality Mark (PQM), which recognises employers’ defined contribution (DC) pension schemes. Other organisations to be recognised by the National Association of Pension Funds (NAPF) include chemical organisation BASF, drinks ...
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AnalysisWhat impact has pensions auto-enrolment had on the group risk market?
With the UK’s ageing population benefits packages will need to cater for employees with a potential age-range of 20-80, this holds many challengesThe introduction of pensions auto-enrolment from October 2012 helped to substantially boost the group life market without much effort on the part of insurers.Around 100,000 employees were enrolled ...
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ArticleStaff face big decisions around pension savings
Nearly two-thirds (60%) of respondents say uncertainty about how to make the best decisions around how to access their pensions savings is the greatest challenge facing their employees, according to the Employee Benefits/Close Brothers Pensions research 2014. The research, which surveyed 216 respondents in September 2014, also found that the ...
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ArticleHalf of women saving adequately for retirement
Half of the UK female population is now saving adequately for retirement, representing a 10 percentage point rise year on year, according to research by Scottish Widows.The Scottish Widows Women and retirement report, which surveyed 5,055 UK adults, also found that the gender gap when it comes to adequate retirement ...
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ArticleClare Bettelley: Employers need to address staff at-retirement needs now
This perhaps explains why more than half (55%) of respondents do not offer staff support at retirement; the associated issues aren’t at the forefront of employers’ minds.Many employers have reservations about providing at-retirement support because of the blurred boundary betweenfinancial guidance and advice , which employers are prohibited from offering.Employees ...
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ArticleAviva in talks to acquire Friends Life
Aviva is in talks to buy fellow insurer Friends Life in a deal worth almost £5 billion.The merger would create the UK’s largest insurance and savings business with more than 16 million customers.It would also lead to a substantial increase in profits and assets under management at Aviva Investors.he merger ...
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ArticleZurich proposes closing DB pension to future accrual
Zurich is proposing to overhaul pension and reward arrangements for all of its UK employees, which may include closing the defined benefit (DB) section of its pension scheme to future accrual in 2015. The proposed changes, which would affect 7,200 employees, aim to help safeguard Zurich’s long-term future as a ...
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Article62% of HR and benefits teams support staff at-retirement
Just under two-thirds (62%) of respondents’ HR and benefits teams are responsible for their organisation’s at-retirement support for staff, according to the Employee Benefits/Close Brothers Pensions research 2014.The research, which surveyed 216 respondents in September 2014, also found that just over a third (37%) of respondents said that their pension ...
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ArticleOnly 6% of UK staff on track for retirement income
Just 6% of employee respondents are on track for the retirement income they want, despite the focus on pensions following the reforms announced in this year’s Budget, according to research by Aegon.Its second Aegon UK Readiness report surveyed 4,000 UK employees to assess their behaviour, awareness and finances to determine ...
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Article49% assessing at-retirement support funding
Just under half (49%) of respondents have yet to quantify the funding they need for their pre-retirement programmes, according to the Employee Benefits/Close Brothers Pensions research 2014.More than a third (35%) of the 87 respondents that offer staff support at retirement expect their funding to remain about the same in ...
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Article36% predict future need for at-retirement support
Just over a third (36%) of respondents think that employers will need to offer at-retirement support to their staff in the future, according to the Employee Benefits/Close Brothers Pensions research 2014.The research, which surveyed 216 respondents in September 2014, also found that 30% of respondents are in the throes of ...
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ArticlePensions research 2014
The Employee Benefits/Close Brothers Pensions research 2014, examines the latest pensions industry trends and issues, enabling employers to keep up to date on the changing needs of their workforce, particularly for staff approaching or at retirement. The research includes the following articles:Jeanette makings: Financial education provides essential retirement guidance Clare ...
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Article
Buyer's guide to group personal pensions
Under a group personal pension (GPP), an employer agrees to make monthly contributions into the scheme, but the contract is between the employee and the pension provider. Currently, a GPP ends when the member retires and buys an annuity with the proceeds, so there is no obligation on the employer ...
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ArticlePension scheme membership lowest among 16 to 21 year olds
Employee membership of a workplace pension is at its lowest at the beginning of an employees’ working life, according to research by the Office for National Statistics.Its Pension scheme membership report found that among employees aged 16 to 21, around 10% of both men and women belonged to their employer’s ...
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ArticleThe Pensions Regulator issues first auto-enrolment fines
The Pensions Regulator (TPR) has issued its first fines to employers for failing to meet auto-enrolment duties.It has issued three fixed penalty notices were issued, each levying fines of £400 on employers, according to the TPR’s latest automatic-enrolment Compliance and enforcement bulletin.TPR has not revealed details of the nature of ...
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ArticleMG Rover Group reaches £8m pension settlement
MG Rover Group has reached an £8 million pension settlement with The Pensions Regulator (TPR) following an investigation into its senior pension scheme.More than 100 former employees, who were members of the scheme, will now receive a cash bonus almost ten years after the car manufacturer collapsed in April 2005.In ...
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ArticleNine out of 10 small employers want auto-enrolment delay
Nine out of 10 small employers that have not reached their pensions auto-enrolment staging date yet want the process to be delayed until the new raft of pension reforms are complete, according to research by the Association of Consulting Actuaries (ACA).The ACA 2014 Smaller firms’ pension survey, which surveyed 414 ...
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Article47% of auto-enrolment probes result in breaches
The number of investigations into auto-enrolment compliance by The Pensions Regulator (TPR) that result in potential and actual breaches has more than doubled this year, according to a Freedom of Information request by Creative Auto Enrolment.The request by the auto-enrolment services organisation found that investigations resulting in potential or actual ...
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Article62% of staged employers positive about pensions auto-enrolment
Nearly two-thirds (62%) of staged employers feel positive about auto enrolment, and the impact it will have on their business, according to research by Close Brothers Asset Management.Its Business barometer survey, which surveyed more than 900 UK employers, also found that the majority of employers which have staged for auto-enrolment ...