All Pensions articles – Page 128
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Analysis
Back to basics on balanced managed pension funds
If you read nothing else, read this…Balanced managed funds invest across a small range of asset classes.Transparency in financial services has led to many providers closing or rebranding their balanced managed funds.Balanced managed funds are gradually being replaced by the likes of diversified growth funds.Employers have, by and large, complied ...
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Article
Three pensions consultations announced in November
Consultation on defined ambition pensionsThe Department for Work and Pensions’ (DWP) proposal to introduce a defined ambition pension was first mooted in November 2012.The consultation, which will close on 19 December, proposes a defined ambition pension to create more certainty for employees, share investment risks more equally and help employers ...
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ArticleWorkplace pensions report 2013
Read the digital edition of the Workplace pensions report 2013.The supplement includes the following articles:Facts and figures on pension schemesHow much do staff need to contribute for a comfortable retirement?Helen Powell: Employer’s role in improving members’ outcomes Molson Coors Brewing Company seeks pensions understanding Contract-based pension scheme comparison table How ...
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Article
Zoe Lynch: Will the government's proposed 0.75% pension charges cap be enough?
Since the advent of automatic-enrolment, the government is rightly concerned to ensure that pension scheme members are getting value for money.As a result, we have seen a dizzying number of initiatives and consultations launched in the last few months on workplace pensions, with everyone from the Department for Work and ...
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Article
Scottish Widows partners Gallagher Employee Benefits for auto-enrolment support
Scottish Widows has partnered Gallagher Employee Benefits to support small and medium-sized enterprises (SMEs) through auto-enrolment legislation.Gallagher Employee Benefits has developed a service, called GroupSure, which provides access to a range of employee benefits, including a workplace pension. It offers simplified administration aimed at SMEs.A key focus of the service ...
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Article
NCR enters defined benefits pensions buy-in
The NCR Pension Plan has entered into a pension insurance buy-in with Pension Insurance Corporation (PIC).The transaction aims to secure benefits for members of the technology organisation’s defined benefit (DB) pension scheme by transferring around £670 million of assets.The NCR Pension Plan covers approximately 5,600 members who were formerly, or ...
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Article
Barnett Waddingham launches auto-enrolment website
Barnett Waddingham has launched an auto-enrolment website to support small and medium enterprises (SMEs).The website, which is in partnership with provider Standard Life, also supports the pension consultants’ services already in place for SMEs.Its features include:Tips and a guide for SMEs on auto-enrolment.Animated videos that demonstrate the benefits of the ...
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Article
TPR launches auto-enrolment compliance for recruiters
The Pensions Regulator (TPR) has carried out a series of fact-finding visits to recruitment organisations to ensure they are prepared for auto-enrolment.The visits, which TPR is making to a range of sectors, are to prevent and tackle possible breaches, ensure compliance, learn lessons and share good practice among the industry.The ...
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Article
Buck Consultants and Wragge & Co launch auto-enrolment initiative
Buck Consultants and Wragge and Co have launched a joint initiative to help small and medium-sized enterprises (SMEs) fulfill their auto-enrolment obligations.The initiative includes:A free online questionnaire designed to capture key information.A face-to-face consultation with pensions and legal experts who will review questionnaire responses and guide organisations through a comprehensive ...
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Article
Greenery UK hires DB pension administrator
Food distributor, Greenery UK, has appointed Capita Employee Benefits to provide actuarial and administration services for its defined benefit (DB) pension scheme.The services, which are part of a three-year contract, went live on 1 October.John Priest, trustee of the pension scheme, said: “We saw [Capita] as a trusted partner and ...
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Opinion
Jonathan Dowden: SMEs do not have bandwidth to deal with auto-enrolment
Smaller employers just do not have as much bandwidth to deal with the increased demand on people carrying out the administration associated with auto-enrolment, or the increased time it takes to understand the legislation and communicate it effectively to employees.The financial burden is also something that small businesses will not ...
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Article
Firefighters strike again over pension proposals
Firefighters across England and Wales are on strike today over the government’s proposed reforms to their pension scheme.It is the fourth strike that members of the Fire Brigades Union (FBU) have staged in recent weeks. Firefighters previously went on strike on 25 September, 1 and 4 November, and suspended planned ...
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Article
FTSE 350 pension deficit increases to £102bn
The estimated aggregate deficit for the defined benefit (DB) pension schemes of FTSE 350 companies stood at £102 billion at 31 October 2013, according to research by Mercer.Its Pensions risk survey found that asset values increased by £13 billion over the month, from £553 billion at 30 September 2013 to ...
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Case Studies
Cineworld extends payroll service to weekends to cope with auto-enrolment
Payroll manager Jenni Bromfield says: “We have faced a number of challenges, not least the fact that most of our staff are on zero-hour contracts and have pay that varies, so it is difficult to generate the data that determines who is eligible for auto-enrolment.“All our payroll processes are geared ...
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OpinionIan Luck: Tax guidance for auto-enrolling weekly-paid employees
But without doubt, employers of weekly-paid staff will find compliance with the regulations extremely onerous.Any employee earning more than £182 per week must be automatically enrolled, when eligible, with contributions being based upon earnings above £109 per week. With the current minimum wage at £6.19 for over 21 year olds, ...
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AnalysisThe challenges of auto-enrolling weekly-paid employees
If you read nothing else, read this…Weekly-paid employees’ eligibility for auto-enrolment is prone to change frequently because of their fluctuating pay.Employers’ payroll teams face increased workloads because of this fluctuation.HR and pensions teams need to support payroll providers to manage the workload.There have, of course, been challenges, not least of ...
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Article
Employers would support group risk auto-enrolment
More than half (52%) of respondents would support an initiative to auto-enrol employees into group risk protection products alongside pensions auto-enrolment, according to research by Group Risk Development (Grid).Its Group risk employer research, which surveyed 500 UK employers, found that 38% would consider implementing these products alongside auto-enrolment.The research also ...
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Article
Lloyds Banking Group consults on DB pension changes
Lloyds Banking Group is consulting with employees in its defined benefit (DB) pension schemes about a proposed cap on pensionable pay.The proposals, which would impact 35,000 DB pension members, would mean that these employees will be paid a pension calculated using their current salary rather than adjusting the pension in ...
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Article
Aon Hewitt launches auto-enrolment product
Aon Hewitt has launched its auto-enrolment product, A to Z.It selected insurer Zurich as the pensions provider for A to Z.The product, which has been developed for organisations that are implementing auto-enrolment in 2014, has a flat annual management charge of 0.5% for all members if they use Zurich’s default ...
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Article
Tate and Lyle enters pensions buy-in
Tate and Lyle Amylum UK Pension Scheme has entered into a pension insurance buy-in.The transaction, which covers £82 million of liabilities and more than 600 members of its defined benefit (DB) pension scheme, was concluded by Pension Insurance Corporation (PIC).The employer and the trustees were advised by KPMG.Steve Amor, head ...