All Pensions articles – Page 126
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AnalysisAuto-enrolment tips for smaller employers from larger firms
If you read nothing else, read this…Employers should be realistic about their auto-enrolment budget.Planning ahead can help avoid potential problems.Postponement can give smaller employers breathing space.More than half (55%) of employers that responded to Employee Benefits/Capita Pensions Research 2013 and have auto-enrolled their workforce recommend that smaller employers start planning ...
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Opinion
Lynn Graves: Which pension scheme is right for auto-enrolment?
With auto-enrolment well under way, for the first time every employer must offer a pension scheme to staff. As we venture through the next few years, many small to medium-sized organisations are considering workplace pension provision for the first time, raising some challenging questions about the type of scheme to ...
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Article
Confessions of a benefits manager: Seeking pensions answers
Well, that’s no big deal because we have Smarmy Consulting for that sort of thing. Except Big Bad Boss doesn’t want me to ask them. Erm, why not? As our pension-gurus-in-residence, they are the only ones likely to give me that kind of information for free.Big Bad Boss avoids the ...
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Article
Buyer's guide to group personal pensions 2013
The factsWhat is a group personal pension (GPP)?It is a contract-based pension scheme that is arranged by an employer, but each member holds a personal contract directly with the provider.What are the origins of GPPs?GPPs are 25 years old this year, having been introduced on the back of individual personal ...
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Article
Gain free tax and legal advice at Employee Benefits Live
Human resources, benefits and reward professionals will be able to gain free tax and legal advice on key benefits issues during several drop-in sessions at this year’s Employee Benefits Live.In the Auto-enrolment Drop-In clinics, delegates can seek advice and support from legal experts. These include David Farmer, partner at DLA ...
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Article
LV= revamps auto-enrolment pension communications
LV= has revamped its pension communications as part of its compliance with auto-enrolment.The insurance organisation has launched an online hub called Pensions Village to engage employees with its trust-based defined contribution (DC) pension scheme.It auto-enrolled 600 employees into the scheme, which already had 4.700 active members, on 1 May.LV= worked ...
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Article
Auto-enrolment could cost employers £15.4bn
UK organisations are facing £15.4 billion in set-up costs to meet the requirements of auto-enrolment legislation, according to research by independent economic consultancy Centre for Economic Business Research (CEBR) and commissioned by Creative Auto Enrolment.The Finding your way out of the auto-enrolment maze report found that small employers, with between ...
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Article
Pets at Home launches master trust for auto-enrolment
Pets at Home has launched a master trust to comply with auto-enrolment.The pet care retailer, which has 6,000 employees across more than 350 UK stores, began to plan for the legislation in 2011.It invited a number of providers to tender for the scheme, from which it appointed Legal and General.Ryan ...
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Article
Jelf Employee Benefits launches auto-enrolment guide for SMEs
Jelf Employee Benefits has launched a free downloadable guide to provide information to small and medium-sized employers (SMEs) on auto-enrolment.The online guide is based on the consultancy’s hands-on experience dealing with large organisations and auto-enrolment.It is divided into nine sections with three headline messages for SMEs:Sort out your data: Auto-enrolment ...
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Article
John Lewis pension deficit rises
John Lewis Partnership has seen its defined benefit (DB) pension scheme deficit rise by £86.5 million over the period between 26 January and 27 July 2013.In its Interim financial statements for the half year ended 27 July 2013, the retailer reported that the total accounting pension deficit at that date ...
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Article
Intermediaries prepared to help with pensions auto-enrolment
The vast majority (96%) of payroll administrators and 95% of accountants surveyed anticipate helping employers with their auto-enrolment duties, according to research by The Pensions Regulator (TPR).Its research, Intermediaries’ awareness, understanding and activity relating to workplace pension reforms, which surveyed 580 intermediaries, found that 62% of accountants and 38% of ...
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Article
PWC raises partner pay and lowers DB deficit
PricewaterhouseCoopers (PWC) increased its profit for partners from £679,000 in 2012 to £705,000 for the year ended 30 June 2013.The PwC UK Annual report 2013, which was published on 9 September, also disclosed that staff bonuses increased by 4% to £87 million.It also reported that the professional services firm’s defined ...
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Supplier article
Carol Baylis: The role of technology in benefits management
Carol Baylis (pictured), total rewards director at Hitachi Data Systems, will speak at Employee Benefits Live on 26 September about the role of technology in employee benefits management.Employee Benefits asked her a few key questions:1. What has been your biggest challenge in 2013?We have a global request to drive benefits ...
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Opinion
Peter Murphy: Landmark ruling for DB schemes and sponsor
The ruling by the Supreme Court in the Nortel and Lehman versus The Pensions Regulator (TPR) case has been hailed as a landmark decision with significant consequences for lenders and the restructuring community. But is it as important for trustees of defined benefit (DB) pension schemes and their sponsors? At ...
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Opinion
Malcolm McLean: Younger staff should pay more attention to pensions
Worrying what their financial standing might be in 40 or 50 years’ time is not something you would have thought would trouble most young people unduly.Although one recent poll did suggest there is a growing anxiety among some in their 20s about possible income shortfalls and healthcare problems for their ...
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Article22% of employers to continue running DB pension
More than one-fifth (22%) of respondents that offer a defined benefit [DB] pension plan will continue to offer it as a fully-functional scheme in the next two years, according to Employee Benefits/Capita Pensions Research 2013.But 15% of respondents with a DB scheme plan to review their plan’s future and 8% ...
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ArticleMost employers plan to auto-enrol all staff into same scheme
One in 10 employers that have auto-enrolled staff used different pension plans for executives and the rest of the workforce, according to the Employee Benefits/Capita Pensions Research 2013.But the research, which surveyed 370 HR and benefits managers, found that the vast majority of employers that have gone through, or still ...
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Article
Kodak pension plan finalises acquisitions
The UK Kodak Pension Plan (KPP) has completed its acquisition of the Kodak Personalised Imaging and Document Imaging businesses.KPP acquired the organisations from Eastman Kodak Company and subsequently created a new organisation, Kodak Alaris.The new company will focus on strategic, ongoing investments for these organisations.The move follows KPP filing the ...
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Opinion
Richard Fleet: High auto-enrolment contributions disadvantagous
I refer to your article Calculating the cost of auto-enrolment (August 2013).The summary opines that: “An investment is being made, so employers should make sure that there is value in that investment by communicating with, and educating, employees.”I have to take issue with this. There is no question of this ...
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Article
InterContinental Hotels chain completes £440m pension buy-out
InterContinental Hotels has completed a £440-million buy out for the Intercontinental Hotels UK Pension Plan.The deal means that the benefits payable to the defined benefit (DB) pension plan’s 3,000 members, including any missing beneficiaries that emerge in the future, have been insured by Rothesay Life.The move means the plan’s members ...