All Pensions articles – Page 12
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ArticleInterserve completes £400 million pension scheme buy-in
Interserve, a construction firm that went into administration in 2019, has completed a £400 million buy-in for its pension scheme members.The transaction was conducted with provider Aviva, and secured the benefits of more than 7,000 scheme members and follows a £300 million pensioner-only buy-in that took place in 2014.Aviva insured ...
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OpinionKaty Harries: To consolidate or not to consolidate, that is the question
We have now reached 10 years of automatic-enrolment, which has led to an increase in the value of pension savings and the number of people saving for their retirement. The vast majority of these people were enrolled into defined contribution (DC) schemes.As more people joined DC schemes, the government raised ...
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OpinionMax Ballad: Forfeiture rules should allow trustees discretion to pay benefits to pensioners
Imagine you go into a shop to buy an item for 95 pence and hand over £1. You wait for your change. After a short while the shopkeeper closes the till and wishes you a good day. “No change?” “Sorry sir, in this shop if you don’t ask for your ...
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ArticleForget Me Not introduces salary sacrifice pension scheme
Huddersfield-based children’s Hospice charity Forget Me Not has launched a salary sacrifice pension arrangement in order to look after the financial wellbeing of its 140 employees.Through a partnership with financial wellbeing platform Maji, the charity will pay the total pension contribution on behalf of each member of its workforce, and ...
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ArticleGovernment to protect pensions triple lock
Autumn budget 2022: The government has confirmed that the pensions triple lock and credit will be protected, and rise by 10.1% in April 2023.Chancellor of the exchequer Jeremy Hunt told the House of Commons that the state pension will be uprated by inflation, rather than in line with average earnings ...
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OpinionEmily Whitelock: Can pensions auto-enrolment adjustments increase saver engagement?
In its blog published 4 November, AE has come a long way, but we all have further to go, the Pensions Regulator (TPR) recognises the successes of automatic-enrolment in encouraging retirement saving. It also acknowledges that it could do more to enforce employer compliance with AE obligations.Is there scope, 10 ...
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AnalysisHow does the enhanced climate change reporting affect workplace pension schemes?
Need to know:Trustees of large pension schemes and master trusts now have an additional obligation to publish a forward-looking measure of their scheme’s alignment with the Paris Agreement.There is effectively a choice of three methodologies to accomplish this.Trustees and employers should ensure the pension investment strategy aligns with the business’s ...
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Case StudiesMaterial Impact ensures pension investment plan aligns with sustainability ethos
Material Impact is a marketing and PR firm based in London, whose experience includes 61 clients in five continents, ranging from JP Morgan and $130 billion fund administrator Crestbridge to the Institute of Neurodiversity and Imperial College Business School. Established in January last year, it has eight members of staff, ...
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ArticleLaura Trott appointed minister for pensions
Image credit: Gov.ukPrime Minister Rishi Sunak has appointed Laura Trott MBE as minister for pensions, after predecessor Alex Burghart officially held the role for less than one month.Trott was appointed on 27 October, and the Department for Work and Pensions (DWP) made the announcement on 7 November via its official ...
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Managing change for pensions: First time outsourcing
VIDEO: Joanna Udall, pensions manager UK and Ireland at Siemens, presented a session titled ‘Managing change for pensions: First time outsourcing’ on 5 October at Employee Benefits Live 2022.Key points covered within the session included: Managing change carefully and sensitively The importance of keeping good people and building strong relationships ...
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Video
Positive about pensions: how to get people to care for their future self
VIDEO: Sinead Swift, senior manager, reward, at Brambles, presented a session titled ‘Positive about pensions: how to get people to care for their future self’ on 5 October at Employee Benefits Live 2022.Key points covered within the session included:Positioning pensions positively: how to help people understand the importance of regular ...
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OpinionRhiannon Barnsley: Auto-enrolment reform gives employees a choice
Nobody is thinking about pension auto-enrolment reform at the moment. Quite frankly, people are more concerned about how they are going to afford to put the heating on this winter, or how they are going to pay their mortgage. Understandably, of course. However, this should not be used as an ...
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Video
Creating dyslexic-friendly pension communications
VIDEO: Oliver Payne, international pensions and data analytics manager at Ford Motor Company, presented a session titled ‘Creating dyslexic-friendly pension communications' on 5 October at Employee Benefits Live 2022.Key points covered within the session included:The importance of neurodiversity in pension communicationsTop tips for creating communications that are easier for dyslexic ...
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ArticleFirefighters to receive £3,750 pay out in pensions case
A ruling has stated that nearly 9,000 firefighters are set to receive a £3,750 pay out following a case that found they were receiving less money in their pensions than they should.The figure was awarded as compensation for anxiety, distress and related feelings, while some claimants with additional reasons for ...
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ArticleAlex Burghart appointed minister for pensions and growth
Prime Minister Liz Truss has appointed Alex Burghart as minister for pensions and growth in the Department for Work and Pensions (DWP).Burghart has been the Conservative MP for Brentwood and Onga in Essex since 2017, and has served as Parliamentary Under-Secretary of State in the DWP since September. He was ...
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ArticleEmployee Benefits Live 2022 speaker slides
Where speakers have given approval, we have uploaded the speaker slides for the keynote and conference sessions at Employee Benefits Live 2022, which took place on 5-6 October 2022 at ExCeL London.Thank you very much to all of the speakers for sharing their ideas, experiences and insights.Keynote speakersK1: Diversity, equality ...
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OpinionLauren Wilkinson: Collective defined contribution pensions offer employers greater control
As UK pension provision shifts increasingly away from defined benefit (DB) schemes, collective defined contribution (CDC) plans could be an attractive option for employers looking at closing existing DB schemes in order to have greater certainty and control over costs.It could also appeal to employers currently providing DC arrangements which ...
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AnalysisWhat does the collective defined contribution (CDC) code of practice include?
Need to know: The Pensions Regulator has published a new code of practice for employers that would like to introduce collective defined contribution (CDC) pension schemes. The code lays out the detailed and extensive process employers will need to go through to receive authorisation. It is ...
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ArticleEXCLUSIVE: Ford Motor Company creates dyslexia-friendly pension communications
Employee Benefits Live 2022: To support its dyslexic employee population, Ford Motor Company has formed an initiative to create pensions communications that are more accessible.Addressing delegates at Employee Benefits Live 2022 in a session entitled 'Creating dyslexic-friendly pensions communications', Oliver Payne, international pensions and data analytics manager at Ford Motor ...
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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 ...