All Pensions articles – Page 118
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ArticleDens sees 50% pension take up before auto-enrolment
EXCLUSIVE: Action against homelessness charity Dens has seen 50% of staff take up its pension scheme after it complied with auto-enrolment more than three years early.The charity’s auto-enrolment staging date is 1 January 2017, but it launched a master trust, provided by Now: Pensions, in October 2013.This is the first ...
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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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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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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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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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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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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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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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ArticleAt-retirement market set to triple in 10 years
The at-retirement market is set to grow considerably in the next 10 years, according to research by Towers Watson.Its research, which used projections derived from a study of the aggregate value of UK pension pots for different age segments, estimated that inflows into the market will reach £50 billion by ...
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ArticleAuto-enrolment will add 8.5m new pension savers by 2030
Around 8.5 million people could become new pension savers by 2030 if auto-enrolment opt-out rates remain around 9-10%, according to research by the Pensions Policy Institute (PPI).The report, How will automatic enrolment affect pension saving?, which was sponsored by Legal and General, analysed data provided by auto-enrolment pension scheme providers ...
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ArticleOffice of Budget Responsibility projects future retirement age of 70
Future generations of UK employees will have to work until age 69 or 70 before they receive their state pension, according to a report by the Office for Budget Responsibility (OBR).Its Fiscal sustainability report, which was presented to Parliament on 10 July, projects that state pension costs will increase from ...
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ArticleBookatable.com sees no opt out post auto-enrolment
EXCLUSIVE: Bookatable.com has seen no eligible employees opt out of its group personal pension (GPP) since they were auto-enrolled. Prior to its staging date on 1 July, 45 of the online restaurant reservation organisation’s 130 employees were members of its pension scheme.All eligible staff are now in the scheme, which ...
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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 ...
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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 ...