All Pensions articles – Page 117
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Article67% of SMEs unaware of auto-enrolment staging date
Two-thirds (67%) of respondents have no idea when their auto-enrolment staging date is, according to research by accountancy firm HW Fisher and Company.Its research, which surveyed 750 small and medium-sized enterprises (SMEs), found that nearly a third (32%) of respondents felt they do not know enough about auto-enrolment to be ...
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ArticleGovernment publishes draft Taxation of Pensions Bill
The government has published its draft Taxation of Pensions Bill, which provides further details around how people can access defined contribution (DC) pension savings flexibly from April 2015.Its Pension flexibility: (draft) taxation of pensions bill, formally introduces:The concept of ‘flexi-access drawdown’ (FAD). There will be no restrictions on how money ...
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ArticleBAE Systems redesigns pension website
BAE Systems has relaunched its pension website after redesigning it to improve the information available for employees.The organisation’s pension scheme members regularly use the online portal, which receives more than 5,000 visitors each month.However, its pensions helpline still received a large number of calls because employees could not find the ...
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ArticleDennis Publishing raises pensions take up to 94%
EXCLUSIVE: Dennis Publishing has increased its pensions take up to 94% following auto-enrolment.The magazine publisher, which owns a range of car, technology and lifestyle titles, had 265 (67%) employees in its group personal pension (GPP) plan prior to its auto-enrolment staging date.It had postponed compliance by three months, from January ...
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Article72% not prepared for pension reforms
Just under three-quarters (72%) of respondents say they are not fully prepared to deal with the consequences of the pension reforms announced in the March 2014 Budget, according to research by Aon Hewitt.Its research, which questioned more than 300 pension professionals, found that one in five (20%) respondents would need ...
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Article66% of trustees to change DC pension default strategy
Two-thirds (66%) of trustee respondents are looking to change their pension scheme’s default strategy within the next 18 months as a result of the Budget changes to at-retirement options, according to research by asset management firm SEI.Its Defined contribution pensions survey, which surveyed trustees and employers about their current approach ...
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OpinionRicky D’Ash: The long road to pensions wind-up
Often there are deficits to make good, as well as the various fees to maintain the scheme from actuaries, consultants, trustees and pension lawyers. It is no wonder that employers want to remove these liabilities from their books as quickly as possible.I am currently involved in the wind-up of three ...
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ArticleBT Group pension guarantee upheld
The Court of Appeal has upheld a 2010 High Court judgement that the government would fund BT Group’s defined benefit pension obligations for all 313,000 members, regardless of whether an employee joined the organisation pre or post-privatisation.In 2010, the High Court ruled that the government would take responsibility for the ...
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Article99% of largest employers have met legal duties around auto-enrolment
Nearly all (99%) of the UK’s largest employers have met their legal duties around auto-enrolment without the need for The Pensions Regulator (TPR) to use its statutory powers to force them to do so, according to a report by TPR.Its Commentary and analysis report 2013/14 found that 10,817 employers completed ...
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Article
Pentland Brands and McDonald's awarded for best auto-enrolment strategy
McDonald’s Restaurants and Pentlands Brands won the awards for Best pensions auto-enrolment strategy at the Employee Benefits Awards 2014.Read why McDonald’s Restaurants (pictured right) won the award for best large employer and why Pentland Brands (pictured far right) was judged to be the best small employer in this category.The Employee ...
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Article20% of employers intend to make changes to pensions
A fifth (20%) of employer respondents intend to make changes to their workplace pension scheme as a result of the recent Budget and Department for Work and Pensions’ reforms, according to research by Hargreaves Lansdown.The HL June employer survey, which questioned more than 300 employers, found that 60% of respondents ...
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Article53% think higher contributions under auto-enrolment will aid recruitment
More than half (53%) of respondents that intend to contribute more than the minimum pension contributions for auto-enrolment think it will help to recruit and retain staff, according to research by Now: Pensions.Its research, which surveyed 450 small and medium-sized enterprises (SMEs), found that 40% believe that by contributing more ...
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Article59% used benefits platform to manage pensions auto-enrolment
Nearly two-thirds (59%) of respondents used a benefits platform to manage auto-enrolment, according to research by JLT Employee Benefits.Its latest JLT 250 Club survey found that 67% of respondents said their view of how benefits platforms can be used had changed following auto-enrolment.More than half (51%) of respondents currently provide ...
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ArticleGovernment sets out plans for guidance guarantee
The government has announced that its guaranteed guidance on pensions choice will be provided by independent organisations rather than pension providers.The changes, which were announced in the Budget in March and will come into effect from April 2015, follow the government’s consultation on how best to deliver the changes to ...
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ArticleTelegraph Media Group engages pension members
Nearly two-thirds (60%) of Telegraph Media Group’s pension members said they would not have contributed additional voluntary contributions (AVCs) to their pension if it had not been for personalised communications about the option.In February 2014, the newspaper group sent out a personalised newsletter to the 1,000 members of its trust-based ...
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AnalysisWhere does responsibility for default pension investments lie?
If you read nothing else, read this …The primary responsibility for a defined contribution pension default fund strategy lies with the sponsoring employer.Employer responsibility is particularly important for contract-based schemes even though the employer role is implied.A board of trustees will have responsibility for the default investment in trust-based schemes.Employees ...
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ArticleWhat are collective defined contribution pension schemes?
New definitions will be added to the current legislative framework for CDC schemes to provide a wider choice of pension schemes, encourage greater risk and enable savers to have more certainty about their retirement savings. CDC schemes were first suggested in the government’s consultation paper, Reshaping workplace pensions for future ...
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ArticleCosts and charges top driver of pension provider selection
Nearly two-thirds (65%) of pension scheme members cited the level of costs and charges as the most important factors for employers when choosing a pension provider, according to research by the National Association of Pension Funds (NAPF).Its What do pension scheme members expect of how their savings are invested? research, ...
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ArticleQueen's Speech legislative changes that impact benefits
The Queen confirmed that the Pensions Tax Bill will offer greater flexibility to defined contribution (DC) pension schemes.From April 2015, the legislation will remove previous restrictions on the way employees can access their DC pension savings, allowing them to access savings as a lump sum, through drawdown or by converting ...
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Jobs and Business Glasgow awarded for best DC default investments
Jobs and Business Glasgow won the award for Best DC pensions default investments at the Employee Benefits Awards 2014.Read why Jobs and Business Glasgow was judged to be the best in this category.The Employee Benefits Awards 2014 were held on 27 June 2014 at the Artillery Garden at the HAC ...