All Pensions articles – Page 114
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Article74% of small employers want support with pension issues
Almost three-quarters (74%) of small and mirco employers with pension issues want support from intermediaries.According to the research from Nest, the government-backed auto-enrolment pension scheme for UK employers, employers also expect support from the outset, with many expecting help as soon as they begin preparations.Many also require ongoing support, with ...
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AnalysisPensions salary sacrifice: what employers need to know
If you read nothing else, read this…Pensions salary sacrifice involves employees sacrificing a proportion of their salary to contribute into their pension scheme.Salary sacrifice can reduce income tax and national insurance contributions for both employers and employees.The term ’salary sacrifice’ is increasingly being replaced with ’salary exchange’. What is pensions ...
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ArticleCTL Engineering completes DB pension buyout
CTL Engineering has completed an insurance buyout of its defined benefit (DB) pension scheme.The consulting engineering, testing, inspection and analytical services organisation’s scheme has 115 members and assets of £12 million. Aviva was appointed to wind up the scheme within three months of transacting.Aon Hewitt advised on the buyout and ...
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ArticleEmployee Benefits digital magazine – November 2014
Employers are looking at how enhanced benefits can help them attract and retain the best employees. Read how on page 18Samsung’s focus on innovation runs right through the organisation, and has been key to the evolution of its employee benefits strategy. Read how in on page 58Rewarding employees who are ...
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ArticleEmployee Benefits digital magazine – November 2014
Employers are looking at how enhanced benefits can help them attract and retain the best employees. Read how in Seducing the talent (page 18)Samsung’s focus on innovation runs right through the organisation, and has been key to the evolution of its employee benefits strategy. Read how in Inspiring change (page ...
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OpinionGeorge Bull: Scrapping of 55% tax rate on pensions goes further than expected
Before this announcement, members of defined contribution (DC) pension plans faced a difficult choice. If they opted for an annuity but died early, then the annuity provider would profit, but if they did not take one and instead left their funds in the pension pot, then the taxman would take ...
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Analysis
Pensions default investments in numbers
66% - of trustee respondents are looking to change their pension scheme’s default strategy within the next 18 months. Source: SEI’s Defined contribution pensions survey, published in August.15% - of UK respondents said they would take ‘somewhat high-risk’ or ‘high-risk’ investments in order to receive better returns. Source: State Street ...
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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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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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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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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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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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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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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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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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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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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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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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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 ...