All Pensions articles – Page 115
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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ArticleGovernment confirms action to cap pension charges at 0.75%
The government has confirmed it will continue to press ahead with action to cap pension scheme charges at 0.75% from April 2015.Its draft regulation paper Better workplace pensions putting savers’ interests first has confirmed charges to invest and manage the default funds of all qualifying schemes will be capped at ...
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ArticleLV= achieves 95% pensions take up post auto-enrolment
LV= has achieved 95% take up of its pension schemes post auto-enrolment.Speaking in a session titled How pension reform will change workplace pension schemes at Employee Benefits Live 2014, Jamie Barnes, head of sales, retirement solutions at LV=, explained that employers have a key role to play in helping staff ...
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Case StudiesTowry looks to effective providers for benefits
Higginson has learned this the hard way, having endured a bad experience with a pensions provider handling the transition to auto-enrolment.“It told us they had this fantastic new automated computer system, but eventually confessed that somebody at its end would manually type all the data into the system,” he says.“That ...
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70% plan to spend pension pot on holidays and travel
Employees aged 55 to 64 plan to spend a larger amount of their retirement income in the immediate years after they retire, according to research by Investec Wealth and Investment.Its research, which surveyed 985 people aged 55 to 64, found that 70% of respondents plan to spend their retirement funds ...
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ArticleBoodles increases staff pension contributions
EXCLUSIVE: Boodles has seen almost a quarter (22%) of its pension scheme members increase their contributions following the launch of a workplace savings platform.The platform, provided by Hargreaves Lansdown, offers staff access to a group self-invested pension plan (Sipp), a cash individual savings account (Isa), a stocks and shares Isa ...
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Case StudiesScisys Group uses workplace savings platform to boost pensions engagement
Scisys Group has seen 30% of its employees increase their pension contributions since the organisation launched a workplace savings platform in November 2013.The IT services developer, which employs more than 400 people, launched the platform to help boost pensions engagement among staff and to offer them a variety of saving ...
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Article45% of men and 49% of women had no pension savings in 2010-12
Some 45% of men and 49% of women below retirement age in Great Britain did not have any private pension savings in the period between 2010 and 2012, according to research by the Office for National Statistics (ONS).Its Characteristics of people and households without a private pension report also found ...
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ArticleMonarch Airlines plans to cut pay and pension benefits
Monarch Airlines has begun talks with trade unions and The Pensions Regulator (TPR) about cutting employees’ pay, benefits and defined benefit (DB) pension payouts.Its 3,300 employees are being asked to take pay cuts and productivity improvements of between 25% and 35%, on top of 900 job losses.The airline’s DB scheme, ...