All Pensions articles – Page 128
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NAPF reports on pension default fund trends
Defined contribution (DC) default funds are reviewing and overhauling their design and governance to deliver good retirement outcomes for members, according to a report by the National Association of Pension Funds (NAPF).Its Default fund design and governance in DC pensions report focuses on eight employers, including Bank of America, Heineken ...
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OFT publishes DC pensions market report
The Office of Fair Trading (OFT) has published its report on the defined contribution (DC) workplace pensions market.The report, which was launched in January 2013 to investigate whether the workplace DC pension market was working well for employees, concluded that there are problems with the market that may prevent some ...
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DB plans increasingly use delegated investment providers
More than one-third (36%) of respondents have appointed a delegated investment provider for their defined benefit (DB) pension scheme, up from 18% in 2011, according to research by Aon Hewitt.Its Delegated investment survey 2013, which surveyed 275 UK DB pension schemes representing around £130 billion of assets, found that this ...
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Time constraint major impediment to good DC governance
More than three-quarters (76%) of respondents said time constraints are a major impediment to good governance of defined contribution (DC) pension schemes, according to research by the Pensions Management Institute (PMI).Its research, which surveyed 175 PMI members in response to the Department for Work and Pensions’ (DWP) call for evidence ...
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DC pensions charges report due
The Office of Fair Trading (OFT) is expected to publish its report on workplace defined contribution (DC) pensions on 19 September.The report is expected to call for a number of revisions to workplace DC pension schemes, including a cap on scheme charges.The publication of the report comes as the Department ...
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BT to consider workplace savings platform
Bringing workplace savings benefits, such as pensions and share schemes, all together into one place on a workplace savings platform is the way forward, said Kevin O’Boyle, head of pensions at BT Group speaking at Employee Benefits Live on 25 September.“But it can’t substitute with live face-to-face action,” he added.The ...
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DOD’s blog: Get me a tardis (and a cocktail)
On Wednesday night I had a very interesting chat to a pensions lawyer over a few cocktails at the annual Allen & Overy press party.I do not think it was the generously ginned-up drinks that made current pensions litigation trends appear interesting. In fact, the conversation quite sobered me up.It ...
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JLT Employee Benefits launches pensions white paper
JLT Employee Benefits has launched a white paper, which provides an analysis of the evolution of the pensions landscape in the UK since the Pensions Commission report in 2004.The paper, Achieving the 21st century pensions settlement, was launched at a panel discussion at the Liberal Democrats’ party conference on 16 ...
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Barbon takes steps to boost pension saving
Barbon Insurance Group is encouraging young staff to start saving into its group personal pension scheme by lowering its minimum employee contribution to 1%.Speaking during a session at Employee Benefits Live on 25 September, Sarah Minter, reward manager at Barbon Insurance Group, provided tips to small and medium-sized employers (SME) ...
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Consultancy charges ban takes effect
Legislation to ban consultancy charging on auto-enrolment pension schemes came into effect on 14 September.Steve Webb (pictured), minister for pensions, signed the new regulations, which aim to give greater protection to pension scheme members.The legislation, which impacts defined contribution (DC) pension schemes used for auto-enrolment purposes, means an employer cannot ...
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Pall Europe took strong focus on auto-enrolment communications
Communication is key prior to an employer’s auto-enrolment staging date, according to Vicki Tracey, senior benefits specialist at Pall Europe.Speaking at Employee Benefits Live on 25 September at London’s Olympia, Tracey explained that the manufacturing company, which staged on 1 September 2013, found that with a largely segmented workforce comprising ...
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Auto-enrolment biggest benefits challenge
EXCLUSIVE: More than a third (39%) of respondents said preparing for auto-enrolment is their biggest objective over the next 12 months, up from 25% last year, according to research by Aon Hewitt.Its Employee benefits and trends survey 2013, which questioned nearly 350 UK HR and benefits professionals, found that other ...
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L&G to cap auto-enrolment pension charges
Legal and General is to cap the charges for auto-enrolment pension schemes at 0.5%.The charge is to cover both the annual management charge (AMC) for administration of a defined contribution (DC) pension and the charge for Legal and General’s default fund, Multi-Asset Lifestyle Portfolio.Employers, and their employees, that select Legal ...
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Australia, UK and US have largest DC pension markets
The defined contribution (DC) pension markets in Australia, the UK and the US are the largest globally, according to research by Schroders.Its Lessons learnt in DC from around the world report investigated the universal commonalities and local distinctions in DC systems, and highlights the key concepts that determine success and ...
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Employees look to employer for asset allocation decisions
Around 2.6 million people who have not yet retired are most likely to look towards their employers for help with asset allocation decisions around their retirement planning, according to research by Baring Asset Management.The research, which was conducted online among 1,581 non-retired UK adults, found that 14% of respondents said ...
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12.2m facing inadequate retirement income
An estimated 12.2 million people are facing inadequate retirement incomes, according to a report by the Department for Work and Pensions (DWP).Its Framework for the analysis of future pension incomes, which was published on 11 September, found that, with government reforms, such as auto-enrolment, a new state pension and increases ...
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FTSE 100 chiefs' pension pot hits £4.7m
The average pension pot for a FTSE 100 director increased by £400,000 last year to £4.73 million, according to research by the Trades Union Congress (TUC).The PensionsWatch 2013 survey, which examined the pension arrangements of 294 directors across FTSE 100 organisations, also revealed that:The average accrued pension is now £259,947 ...
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ArticleWhich pensions employers are using to comply with auto-enrolment
The Employee Benefits/Capita Pensions research 2013, published on 29 July, found that 63% of respondents that still need to auto-enrol staff will use a group personal pension (GPP) plan as their primary scheme for auto-enrolment, while 33% of those that had auto-enrolled their workforce are using a GPP.L’Oreal, which postponed ...
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ArticleAuto-enrolled employers contribute less
Respondents to Employee Benefits/Capita Pensions Research 2013 that have auto-enrolled staff into a workplace pension are more likely to pay in a 1% employer contribution than those still to go through auto-enrolment.According to the research, conducted among 370 HR and benefits managers, 21% of those that have auto-enrolled staff are ...
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Swallowfield appoints pension consultancy
Cosmetic manufacturer Swallowfield has appointed a pensions consultancy to provide actuarial, investment and pension administration services to its pension scheme.Punter Southall will provide these services to Swallowfield’s Aerosols International Limited Pension Plan (AILPP) scheme, which has 400 members.Paula Ambridge, chair of the AILPP trustees, said: “We were impressed with Punter ...