All Pensions articles – Page 114
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...