All Pensions articles – Page 118
-
Analysis
What should future default fund strategies look like?
If you read nothing else, read this…The default fund strategy of the future should be flexible enough to address employees’ diverse retirement income needs.Asset allocation should be more diverse and include illiquid assets, such as property.But employers must focus on employees’ retirement income, rather than investment returns.Flexibility should be at ...
-
Analysis
Top tips for managing default fund strategies
If you read nothing else, read this…Employers should start by identifying their employees’ retirement needs.Employers have a duty of care to ensure employees are financially able to retire.This requires employee education and engagement.Workforce needsEmployers should start by identifying the retirement income needs of their workforce.Andy Dickson, investment director, UK institutional ...
-
Video
Video: Madeline Forrester: Default investment strategy should be member-led
Employers’ default pension strategies need to be member-led and cater for their organisation’s average pension scheme member, said Madeline Forrester, head of institutional sales at Axa Investment Managers, during an interview with Clare Bettelley, associate editor at Employee Benefits.“[Employers] need a variety of talents within the group leading [the strategy], ...
-
Article
John Lewis plans to cut final salary pension scheme
The John Lewis Partnership has proposed to cut its final salary pension scheme and restructure its pension arrangements in a bid to reduce costs.In March 2013, its defined benefit (DB) pension scheme recorded a pension deficit of £840 million. At the same time, John Lewis Partnership announced it would be ...
-
Analysis
How should employers communicate default funds?
If you read nothing else, read this…Employers must be honest with staff about their savings goals.Employees need to understand how long they may need to work to afford their desired retirement lifestyle.Employers should remove all jargon from their communications.Simon Chinnery, head of UK defined contribution (DC) practice at JP Morgan, ...
-
Article
Debi O'Donovan: Employers must collaborate on pension outcomes
Firstly, employers face major constraints in the pension provider market. Default funds have been evolving over the last 20 years and have yet to come into their own as a distinctive, standalone investment choice, rather than an amalgamation of legacy funds and concepts.Secondly, the defined contribution (DC) market operates on ...
-
Video
Video: Spencer Roach: Diversity key to Cisco's new default fund
Diversity is at the heart of Cisco’s new default pension fund, said Spencer Roach, total rewards manager at Cisco System, during an interview with Clare Bettelley, associate editor at Employee Benefits. He added that the fund choice is underpinned by a lengthy selection process, to ensure that the employer’s final ...
-
Video
Video: Chris Curry: Employer demand drives default fund evolution
Employer demand will drive pensions default pension fund development, said Chris Curry, director of the Pensions Policy Institute during an interview with Clare Bettelley, associate editor at Employee Benefits. “As with most things, there’s a supply and demand side [to the market], so I think if employers are really keen, ...
-
Video
Video Simon Chinnery: Employers should focus on retirement income, not pot size
Employers should focus on their employees’ retirement income needs rather than the size of their pension pot when devising, implementing and managing their default pension fund strategy, said Simon Chinnery, head of defined contribution (DC) and chairman of the Defined Contribution Investment Forum, during an interview with Clare Bettelley, associate ...
-
Article
DOD’s blog: Are DC default funds value for money?
Yesterday the highly insightful team from the Pensions Institute at Cass Business School delivered its latest report: Assessing value for money in defined contribution default funds.I doubt it will top too many bestseller lists, but if everyone who has ever saved for a pension were to read it, it could ...
-
Article
DC pensions members may not be getting best value
The value of the defined contribution (DC) pensions market is expected to grow to £1.7 trillion by 2030 from £276 billion assets under management pre-auto-enrolment in 2012, according to a report by the Pensions Institute.But its Assessing value for money in defined contribution default funds report found that members of ...
-
Video
Video: LV= to move away from one-size-fits-all default fund
Insurer LV= is in the throes of assessing how to meet the retirement needs of its 5,500-strong workforce as part of a review of the suitability of its default pension fund, said Pete Strudwick, pensions and performance partner at LV=, during an interview with Clare Bettelley, associate editor at Employee ...
-
Article
Ikea and Lufthansa awarded Pension Quality Mark
Ikea and Lufthansa have been awarded the Pension Quality Mark (PQM) for their defined contribution (DC) pension schemes.The PQM, which was launched in 2009 by the National Association of Pension Funds, is awarded to schemes that:Have total contributions of at least 10%, with a minimum employer contribution of 6%.Have governance ...
-
Article
Fujitsu uses flex to communicate auto-enrolment
EXCLUSIVE: Fujitsu has used its annual flexible benefits enrolment process to continue its pensions auto-enrolment communications.The technology organisation, which has 15,000 employees, opened its flexible benefits window in November 2013, with employees’ benefits choices taking effect from January 2014.It included details of pensions auto-enrolment in this year’s communications, in order ...
-
Article
Employee Benefits Awards applaud default investments
With more employees then ever enrolled in workplace pension schemes, the pressure is on for employers to ensure that schemes are well run.If you have taken steps to offer an effective default investment strategy for your organisation’s DC pension scheme, why not receive a well-deserved pat on the back?The Employee ...
-
Article
Network Rail appoints pension administrator
Network Rail has appointed Capita Employee Benefits to provide pension administration services for two of its three pension schemes.Capita will be responsible for administering the train operater’s trust-based defined contribution pension scheme, which has around 15,000 members, and its career average re-valued earnings (Care) pension, which has around 3,500 members. ...
-
Article
76% of women fear they will not save enough for retirement
More than three-quarters (76%) of women do not believe they will have enough money to be financially comfortable in retirement, according to research by The Pensions Advisory Service (TPAS).Its third annual TPAS Women and pensions research, which surveyed 1,000 women, also found 71% of respondents do not feel confident about ...
-
Article
The future of default funds supplement 2014
Read the digital edition of our supplement, The future of default funds 2014, in full. It includes the following articles:Simon Chinnery: The evolution of default fundsDebi O’Donovan: Employers must work with providers to deliver adequate pension outcomesAre default funds fit for purpose?What should future default fund strategies look like?Top tips ...
-
Article
DC pension contributions increase little in past 10 years
Average rates of contributions into defined contribution (DC) pension schemes have changed very little over the last decade, according to research by the Association of Consulting Actuaries (ACA).The 2013 ACA Pension trends survey, which questioned 308 employers with more than 430 pension schemes, found that contribution rates are generally failing ...
-
Article
Nortel Networks agrees £23m payment into UK pension
Defunct telecoms organisation Nortel Networks has reached an agreement to pay $37.5 million (£23 million) into its UK pension scheme to settle claims against relevant Nortel parties in the United States.Papers were filed on 17 December in the United States Bankruptcy Court providing details of a conditional agreement between the ...