All Pensions articles – Page 123
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AnalysisDe-risking pension investments in the run-up to retirement
If you read nothing else, read this…Members of DC pension schemes face critical investment choices in the run-up to retirement.Employers can provide financial guidance to help employees make informed decisions.Employees can choose different investment approaches based on level of risk.However, the numbers are set to rise. Some 400,000 people applied ...
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Case Studies
Arriva chooses lifestyle strategy for default fund
The scheme’s default fund uses Standard Life’s lower-to-medium-risk lifestyle strategy, which aims to provide long-term growth whilst investing in a diversified portfolio of assets. This is the second lowest risk level of the five risk-rated lifestyle strategies Standard Life has developed, so employers can select the risk appetite that is ...
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Case StudiesMitie Group integrates employee benefits across businesses
This has posed a significant challenge for the strategic outsourcing organisation which, historically, has grown through a cluster of smaller businesses that have been allowed a degree of autonomy, including in the benefits offered to employees.Katherine Thomas, group HR director, says: “When you start to bring that all together to ...
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Article
Ipswich Town FC to launch master trust
Ipswich Town Football Club is to launch a master trust to comply with pensions auto-enrolment.From 1 November, Now: Pensions will provide the pension, which will be available to the football club’s 600 eligible employees, including office staff and match-day stewards.Denise Booth, management accountant at Ipswich Town Football Club, said: “We ...
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Article
Employers should provide wider insurance benefits
The majority (92%) of respondents believe employers have a role to play in the provision of wider insurance benefits, according to research by Swiss Re.Its Insurance report 2013: Connecting generations – protecting generations found that, although two-thirds of respondents see the value of insurance, many of them find financial services ...
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Article
NAPF launches Stewardship Disclosure Framework
The National Association of Pension Funds (NAPF) has launched a Stewardship Disclosure Framework.It aims to provide pension funds with greater transparency around the stewardship policies and activities of the 206 asset managers who are signatories of the Stewardship Code.The framework, which is based around the seven principles of the Stewardship ...
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Article
Webb says government will get tough on pension charges
Pensions minister Steve Webb (pictured) hinted that the government is to take a tough stance on pension charges in an upcoming consultation, which will respond to the Office of Fair Trade’s (OFT) paper on the defined contribution (DC) pension market.During a speech at the National Association of Pension Funds’ (NAPF) ...
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Article
DOD’s blog: Time to stop screaming about an auto-enrolment crunch
This week I have been talking pensions, largely of the auto-enrolment variety, up at the National Association of Pension Funds’ annual conference in Manchester.What has been great is the positive attitude to how well auto-enrolment has gone to date.But with typical British cynacism, pensions experts are wary as to how ...
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Article
Interface Europe changes DB pension adviser
Carpet tile manufacturer Interface Europe has appointed KPMG to provide a range of trustee services for its defined benefit (DB) pension scheme.These include actuarial and investment consulting, as well as administration and payroll services.The scheme, which is closed to future accrual, has around £100 million of assets and 1,400 members.Simon ...
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Article
48% will stay in pension post-auto-enrolment
Almost half (48%) of respondents will remain in their employer’s pension scheme once they have been auto-enrolled, according to research by information specialist EDM Group.Its research, which surveyed 1,586 employees, found that less than a quarter (23%) have either immediately opted out of their employer’s pension scheme post-auto-enrolment or plan ...
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Article
Confidence in pensions rises to 59%
Confidence in pensions among employees has risen in the past 12 months, according to research by the National Association of Pension Funds (NAPF).Its Workplace pensions survey, which measures employees’ perspectives on workplace pension savings and their preparations for retirement, found that confidence, particularly among staff already saving into a pension ...
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Article
Government announces auto-enrolment changes
The Department for Work and Pensions has announced new changes to auto-enrolment legislation, which are aimed at making it easier for future tranches of employers to enrol their employees into a pension scheme.The government received 112 responses to its consultation launched in September 2012 and has now finalised amendments to ...
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Article
Ceridian launches auto-enrolment product for SMEs
Ceridian has launched an off-the-shelf auto-enrolment product for small and medium-sized employers (SMEs).The technology and service providers’ product aims to help organisations with between 499 and 59 employees that will reach their staging date in 2014 and reduce the administrative burden of complying with auto-enrolment.It is delivered through Ceridian’s HRevolution ...
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Article
Kodak Pension Plan to set up new DB scheme
The Kodak Pension Plan (KPP) is to launch a new defined benefit pension scheme for its members.Almost all (92%) of the previous scheme’s members voted in favour of the establishment of the new plan, while less than 1% voted to enter the Pension Protection Fund (PPF) and 7% have yet ...
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Article
JLT Employee Benefits completes DB pension buy-in
JLT Employee Benefits has completed a buy-in contract with Prudential for its defined benefit (DB) pension scheme.The JLT UK Group Pension Scheme, which has liabilities of £120 million, has purchased an annuity to secure future benefit payments, reducing the volatility of the scheme’s projected funding requirements.The scheme has around 4,000 ...
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Article
Mills & Reeve aligns auto-enrolment with flexible benefits
EXCLUSIVE: Mills and Reeve has aligned pensions auto-enrolment with its annual flexible benefits enrolment window.The law firm has 888 UK employees, but will also include 80 new employees who are part of the June 2013 merger with law firm George Davis.Samantha Neaves, reward and HR information systems manager, said: “Following ...
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Article
Ineos Refining consults on DB pension closure
Ineos Refining is consulting with employees on the closure of its defined benefit (DB) pension scheme.If it does not do so, it faces the risk of having to close its Grangemouth petrochemicals plant near Falkirk, Scotland. The plant, which provides nearly all of Scotland’s petrol and diesel, will close before ...
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Article
Increased openness to wider pension investment strategies
More than a third (40%) of respondents are open to the idea of investing in new asset classes, according to research by Aon Hewitt.The consultancy’s survey of more than 750 delegates at its annual pension conferences highlighted the increasing willingness of trustees to consider a wider range of asset classes ...
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Article
Midcounties Co-op appoints Towers Watson
The Midcounties Co-operative has appointed Towers Watson to manage the investment portfolio of its £145-million defined benefit pension scheme.Towers Watson’s delegated investment service provides an integrated approach to managing assets against liabilities for all sizes of pension funds.Chris Ford, Europe, Middle East and Africa (EMEA) head of investment at Towers ...
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Article
Tesco pension deficit rises to £2.4bn
Tesco has reported a net pension deficit of £2.4 billion, a rise from the £1.8 billion deficit reported at the last year end on 30 March 2013.The retailer’s Interim results 2013/14 reported that this was due mainly to the reduction in real corporate bond yields leading to a fall of ...