All Pensions articles – Page 108
-
ArticleWarburtons increases staff pension contributions
Warburtons has seen more than 376 pension scheme members of staff increase contributions in the last year following the introduction of its three-year engagement plan.The family-owned baking organisation also reduced its auto-enrolment opt-out rates to 1%, down from 2.6% in October 2013.Speaking at the annual National Association of Pension Funds ...
-
ArticleOfcom enters into fifth pension buy-in
Ofcom has continued to manage its defined benefit (DB) pension scheme deficit with a buy-in contract to help de-risk its scheme liabilities.The buy-in arrangement with Legal and General, which is the fifth contract between the insurer and the communications regulator, covers a further £50 million of Ofcom’s (Former ITC) staff ...
-
ArticleNAPF and PMI to discuss merger
The National Association of Pension Funds (NAPF) and The Pensions Management Institute (PMI) have announced their formal intention to discuss the possibility of merging the two organisations.The possibility of a merger will be discussed over the next six to nine months, after which both organisations will update their members and ...
-
Article23% saving the most they can afford for retirement
Less than a quarter (23%) of respondents are saving the most they can afford into a pension, according to research by Friends Life. Its UK Retirement savings map, which surveyed 18,000 UK adults, benchmarked how active respondents are in saving into a pension. The North East, Scotland and the North ...
-
ArticleMost talked-about news in September
The government has confirmed its intention to remove the annual contribution limit and transfer restrictions on the National Employment Savings Trust (Nest). The restrictions on annual contributions, which currently stand at a maximum of £4,600, and bulk transfers will be lifted on 1 April 2017.?We fully welcome proposals to remove ...
-
AnalysisWhy pension investment lifestyling strategies need a re-style
Now that members have the freedom to access their pension funds whenever they wish (once they have reached the age of 55), it is harder to manage the default fund so that it is likely to give a good outcome for members. The default fund has been part of the ...
-
AnalysisWhat are the new flexible retirement options?
If you read nothing else, read this…A number of changes announced in the 2014 Budget give pensions more flexibility.Employees can choose to take their pension wealth as a lump sum, drawdown or as an annuity.New tax rules will help provide greater flexibility.A guidance guarantee will ensure pension members get advice ...
-
ArticleDefault investment strategies must have flexibility to deal with uncertainty
Default investment strategies must be robust enough to be able to deal with uncertainty and the evolution of pensions, according to Tim Banks, managing director of sales and client relations at AllianceBernstein.Speaking in a session on ‘Defined contribution (DC) investment – do we need to think again?’ at the National ...
-
ArticleCreating sustainable EU pension system a key priority
Creating a sustainable and adequate pension system across the European Union (EU) is a key priority, according to Gabriel Bernardino (pictured), chairman of the European Insurance and Occupational Pensions Authority (EIOPA).Speaking at the National Association of Pension Funds (NAPF) annual conference on 17 October, Bernardino also challenged pension scheme providers ...
-
ArticleEmployee engagement in pensions requires less fund choice
Employees who work for employers that offer a limited choice of investment options for their workplace pension scheme are likely to be more engaged in retirement planning than staff who are offered a vast choice. Speaking at the National Association of Pension Funds annual conference 2014 in Liverpool on 16 ...
-
ArticleGuidance guarantee to be delivered under single brand
The government’s guidance guarantee will be delivered under a single brand rather than under the Pension Advisory Service (TPAS) or Money Advice Service (MAS) brands, confirmed the Financial Conduct Authority (FCA) at the National Association of Pension Funds (NAPF) annual conference.The government announced in July that its guaranteed guidance on ...
-
ArticleLufthansa pilots strike over retirement benefits
Lufthansa employees are striking for 48 hours in a dispute over retirement benefits.Lufthansa, which is in the midst of a cost-cutting plan and trying to set up new low-cost units to battle competition, has proposed increasing the retirement age for pilots from 55 to 60 under the terms of its ...
-
ArticleScottish Power, BNY Mellon and IHG awarded for pensions quality
Intercontinental Hotels Group (IHG), BNY Mellon and Scottish Power have been awarded the Pensions Quality Mark (PQM) for their defined contribution (DC) pension schemes, while Lloyd’s Register has been awarded the PQM Plus.The organisations were all presented with their awards by pensions minister Steve Webb at the National Association of ...
-
ArticleMK Dons launches master trust for auto-enrolment
InterMK Group has auto-enrolled all of its 320 employees into a defined contribution master trust. The group, which includes the football club MK Dons, InterMK, HotelMK, StadiumMK and MK Dons Sports and Education Trust, auto-enrolled staff into the master trust, provided by Carey Pensions. The provider will also offer administration ...
-
ArticleNails Inc brands auto-enrolment ‘simple’
Preparing for, and implementing, auto-enrolment is ‘simple’ and ‘easy’, according to Purdey Wildey, financial controller for beauty organisation, Nails Inc.As one of three panellists speaking on a session entitled ‘Automatic enrolment at the sharp end’ at the National Association of Pension Funds annual conference in Liverpool on 16 October, she ...
-
ArticleAlternative asset classes are future for pensions investment, says Sir Bob Geldof
Pension funds must invest in alternative asset classes that help to redistribute global wealth as well as offer pension scheme members a strong return on investment, according to Sir Bob Geldof.As part of his speech, ‘Make a difference’, which he delivered at the National Association of Pension Funds’ Annual Conference ...
-
Case StudiesBristol Myers Squibb educates staff about pension reforms
It has informed staff about the changes following the closure of its defined benefit (DB) scheme in 2012 and the introduction of a group personal pension plan .The employer has also launched an online retirement planning tool, provided by Aspire to Retire, which is available to employees who are five ...
-
ArticleMembers to be able to take multiple tax-free lump sums from pensions
Pension scheme members are to be given greater flexibility over how they take tax-free lump sums from their pension pots.From April 2015, members over the age of 55 will be able to withdraw a series of lump sums, dipping into their pension pot whenever they wish. A quarter of each ...
-
ArticleOne in 10 would transfer out of DB to DC pension
Nearly one in 10 employees approaching retirement with defined benefit (DB) pensions would be interested in transferring out of final salary pensions, according to research by Towers Watson.Its Attitudes to retirement in a post-Budget world research, which surveyed more than 2,000 employees aged between 54 and 64, found that respondents ...
-
Article200,000 staff plan to cash in retirement savings
More than 200,000 employees plan to cash in all their retirement savings next year when new pension reforms giving greater flexibilities come into effect, according to research by Hargreaves Lansdown.The research, which surveyed more than 1,247 people, found that more than one in 10 (12%) respondents with a defined contribution ...