All Pensions articles – Page 12
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Supplier articleMini-budget update
The Chancellor of the Exchequer Kwasi Kwarteng, has today delivered the mini-budget report. Please see our summary below:Income tax and National InsuranceAs heavily rumoured, the planned cut in the basic rate of income tax from 20% to 19% has been brought forward to next tax year (April 2023) from April ...
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ArticleFord, Siemens and Brambles to discuss pensions at Employee Benefits Live 2022
Experts from Brambles, Ford Motor Company and Siemens will discuss key issues relating to pensions at Employee Benefits Live 2022.Oliver Payne, international pensions and data analytics manager at Ford Motor Company, Jo Udall, pensions manager UK and Ireland at Siemens, and Sinead Swift, senior manager of reward at Brambles, will ...
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ArticleEXCLUSIVE: Ford Motor Company to discuss pensions communications at Employee Benefits Live 2022
EXCLUSIVE: Oliver Payne (pictured), international pensions and data analytics manager at Ford Motor Company, has been revealed as one of the speakers at Employee Benefits Live 2022.His presentation, Creating dyslexic-friendly pensions communications, will be part of the conference’s financial reward and pensions stream, and will take place in Theatre Two ...
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AnalysisHow to engage lower-paid staff with pensions during the cost-of-living crisis
Need to know:Illustrating the future pension payback to staff can incentivise saving and lessen the sense of giving up money today.Employees should be fully informed of the risks of reducing pension contributions through simple projections and calculations that show the impact on their long-term financial security.Face-to-face and email communication channels ...
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Case StudiesEasyfundraising highlights the importance of pension saving to staff
Charity website Easyfundraising, which employs 85 staff, recently switched from its group personal pension (GPP) scheme to a salary sacrifice arrangement, primarily to negate the increase in national insurance (NI) in April 2022.Janna Bates, head of HR at Easyfundraising, says: “The same amount of money is going into the pension ...
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ArticleKesslers Group secures £21 million full scheme pension buy-in
Kesslers Group has agreed to a £21 million full scheme buy-in with Legal and General Assurance Society for its pension plan.The transaction, signed in June, has secured the benefits of 240 employees of the on-site manufacturer, including including a mix of deferred and pensioner members.Pensions administration and trustee consulting service ...
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ArticleGovernment launches NHS pension changes consultation
The UK government has launched a consultation on potential changes to the NHS pension scheme, which could make it easier for retired and partially retired NHS staff to return to the workforce.Some pension scheme retire and return rules were suspended in March 2020 to allow staff to return to work ...
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Supplier articleWhat employees need to know if they are considering consolidating their pensions
The Association of British Insurers found an estimated 1.6 million pension pots are sitting unclaimed because they’ve been simply lost or forgotten about. One of the main reasons for this is because a person will have an average of 11 jobs in their lifetime, and could easily end up with ...
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ArticleCoastline Housing pilots living pension to combat poverty in retirement
Cornish charitable housing association Coastline Housing has launched a pilot living pension scheme, initiated by the Living Wage Foundation, in order to combat poverty in retirement for its 350 employees.The association, which owns and manages 5,000 homes across Cornwall, is one of six employers that have committed to testing a ...
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Case StudiesUniversity of Lincoln pension communications tap into student mindset
The University of Lincoln has more than 2,000 employees, a large proportion of which are students, presenting unique challenges when it comes to addressing current financial wellbeing as well as pension savings.Many of these student employees sit below the minimum threshold for auto-enrolment, while even those who are eligible have ...
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AnalysisPensions communications to cut through the noise
Need to know:Employers need tailored, practical messaging to reach employees struggling with pressing financial concerns.A multi-avenue approach will help catch a wider range of employees' attention, but video content and digital strategies are good starting points.In order to cut through the noise, people need to see their pensions as real, ...
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ArticleOnly 23% are aware of ESG options for workplace pensions
Only a quarter (23%) of employees are aware of environmental, social and governance (ESG) options when it comes to their workplace pension, according to research from employee benefits, wellness and financial education provider Secondsight.In the report, Workplace pensions and ESG, 60% admitted they did not know what ESG investing was; ...
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Case StudiesHays offers communication around annuities as part of retirement planning
Hays is a FTSE 250 recruitment specialist firm with 3,215 UK employees. Just one in eight (276) employees are aged over 50. The current Hays pension offering is a 2,600-member group personal pension (GPP) plan provided by Legal and General.With offices dotted around the country, some with just two people, ...
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AnalysisHow can employers communicate the pros and cons of annuities to staff?
Need to know:Although employers have no legal communication duties around annuities, they are often best placed to provide the most relevant information for their workforces.Employers must avoid being risk averse and fail to give guidance. This is not regulated advice.Pensions technology, along with advice from financial advisers, are valuable ...
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ArticleThree-fifths of European employees want additional pensions advice from employers
Almost three-fifths (58%) of employees across Europe showed high or very high interest in accessing professional advice on managing their pensions via their employer, according to research from Alight Solutions.The Retirement perception index, undertaken in partnership with the University of Granada, was carried out among 2,400 employees in businesses across ...
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ArticlePensions minister Guy Opperman resigns
Pensions minister Guy Opperman has resigned from his position in government as of 7 July 2022, following exit announcements from more than 50 other ministers since the start of the week.Opperman started in the role of Pensions Minister on 14 June 2017, and became the longest-serving pensions minister on 11 ...
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OpinionStephen Morrall and Annabelle Woosnam: Pensions in the gig economy
An article published by the Financial Times on 14 June reported that the UK pensions regulator has conceded that not all gig economy employers have done 'the right thing' and offered pensions to staff. What does this mean?In recent years, vast numbers of people have entered the gig economy, working ...
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Article71% of private sector employers offered pensions in 2019
Almost three-quarters (71%) of private sector employers made some form of pension provision for their employees in 2019, according to research commissioned by the Department for Work and Pensions (DWP).The report, EPP 2019, which was conducted by Kantar Public and the National Institute of Economic and Social Research, found that ...
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ArticleGovernment expects to eliminate gender state pension gap by 2040
The government revealed that it expects the gender state pension gap to be eliminated by 2040, suggesting that auto-enrolment could decrease the savings shortfall between men and women.The issue of the state gender pensions gap was raised in the House of Lords on 27 June, as Lord Davies of Brixton ...
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ArticleGovernment consults on helping savers understand pensions
The Department for Work and Pensions (DWP) has launched a consultation on how to help savers, improve member communications, guidance, and decumulation products in pension schemes.The consultation, titled Helping Savers Understand their Pension Choice, will explore what support pension schemes members need to help them make decisions about their savings. ...