All Pensions articles – Page 129
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Article38% due to auto- enrol will use postponement
Respondents that have yet to auto-enrol their staff say they are less likely to use postponement than those that have already auto-enrolled.According to the Employee Benefits/Capita Pensions Research 2013, which surveyed 370 HR and benefits managers, 38% of those that have yet to auto-enrol staff plan to use postponement.Two-thirds (67%) ...
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Article
Auto-enrolled staff have stayed in pensions
More than 90% of employees who have been auto-enrolled into a workplace pension by their employer have stayed in the scheme, according to research by the Department for Work and Pensions (DWP).Its Automatic-enrolment opt-out rates: findings from research with large employers report surveyed 50 employers, 42 of which provided opt-out ...
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Article
Johnson Fleming launches auto-enrolment checklist
Johnson Fleming has launched an auto-enrolment checklist for employers.The pensions and benefits consultancy has designed the checklist to help with both initial project planning and as a final check for employers nearing their staging date.The checklist is broken down into six key sections:Project: Looking at the mechanics of how to ...
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Article
FTSE 100 pension deficits at £43bn
Pension deficits in the FTSE 100 stood at £43 billion at 30 June 2013, compared to £42 billion in 2012, according to research by financial and actuarial consultancy Lane Peacock and Clark (LCP).Its 20th annual Accounting for pensions report provides an analysis of FTSE 100 defined benefit (DB) pension schemes ...
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ArticleFirst auto-enrollers less likely to wait for staging date
The first organisations to auto-enrol staff were more likely to do so before their staging date than those that have still to do so, according to the Employee Benefits/Capita Pensions Research 2013.The research, which surveyed 370 HR and benefits professionals, found that just over half (53%) of those that have ...
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Article
DOD’s blog: how auto-enrolment strategies are shaping up
This week Employee Benefits published a major piece of research into what employers have done with their auto-enrolment strategies to date.The Employee Benefits/Capita Pensions Research 2013 drew responses from 370 employers, 31% of which have gone through auto-enrolment.At a point in time when we are beginning to see pension suppliers ...
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Article
TPR investigating 89 employers for auto-enrolment non-compliance
The Pensions Regulator (TPR) has opened 89 investigations into possible non-compliance of auto-enrolment by large employers.Its Automatic-enrolment: Commentary and analysis report includes information on the first six months of auto-enrolment, between October 2012 to the end of March 2013.The investigations, which numbered 89 at 31 March 2013, are focused on ...
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Article
Standard Life partners LEBC for SME auto-enrolment
Standard Life has partnered LEBC to provide a packaged auto-enrolment product to LEBC’s small and medium-sized employer clients. The package includes:Access to online resources for employers to administer their scheme and for employees to join and manage their pension.A suite of member communications to help promote the benefits of the ...
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ArticleThree-quarters of employers using certification for contributions
Most respondents that have auto-enrolled their staff used the option to self-certify to simplify the calculation of pension contributions, according to Employee Benefits/Capita Pensions Research 2013.The research, which surveyed 370 HR and benefits managers, found that 73% of respondents are using this option.Certification rules state that instead of having to ...
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Opinion
Rachel Brougham: Employers need to consider auto-enrolment costs
If these are not available, employers will start to incur costs in cleaning up their data and deciding what contributions to pay. But, as so many commentators have pointed out, auto-enrolment is not just a pensions problem.For example, Whitbread recently reported having spent more than £1 million on implementation alone. ...
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Opinion
John Chilman: How can employers see a return from pensions?
It’s sad, as a pensions manager, that inertia is the main thing responsible for the boom in pension savings, but ultimately inevitable, when the engaged have already joined or taken the active decision to opt out.So now we’re faced with the challenge of articulating the value of a benefit to ...
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Article
Man United and FA receive Pension Quality Mark Plus
Manchester United and football’s governing body, The Football Association (FA), have become the latest employers to receive the Pension Quality Mark (PQM) Plus for their defined contribution (DC) pension schemes.Manchester United is the first football club to attain the standard for its £578 million trust-based pension scheme, which has around ...
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Article
Gerald Eve sees increase in pensions take-up
Gerald Eve has seen an 11% increase in its pension membership and almost a quarter (24%) of employees have increased their pension contributions since it introduced a workplace savings platform in May.The platform, which is provided by Hargreaves Lansdown, provides the national firm of chartered surveyors and property consultants’ employees ...
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Article
PQM to explore setting standard for default funds
The Pension Quality Mark (PQM) is to explore setting tough new minimum standards for default investment funds.The PQM, which is a benchmark for good-quality defined contribution (DC) pension schemes, was introduced by the National Association of Pension Funds (NAPF) in 2009.It wants to add default funds to its list of ...
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Article
The Pensions Trust consults on DB pension closure
The Pensions Trust is consulting with employees about closing its career average defined benefit (DB) pension scheme to future accrual.The consultation began on 1 July and will run until the end of September.The scheme has been closed to new joiners for the past two years.If it is closed, the scheme’s ...
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Article
DHL consults on DB pension closure
DHL is consulting on the closure of its defined benefit (DB) pension scheme to future accrual.The scheme, which covers around 3,500 employees, is scheduled to be closed at the end of 2013.Its Voyager defined contribution (DC) pension scheme, which covers 16,000 employees, will not be affected by the consultation. Employees ...
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Article
LEBC Group auto-enrols staff one year early
LEBC Group has auto-enrolled its workforce almost a year before its staging date.The independent financial advice firm and employee benefits consultancy opted to auto-enrol on 1 July 2013, rather than 1 May 2014, to ensure it fully understood, from practical experience, the actual issues its employer clients’ HR and finance ...
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Article
TPR launches guides on choosing pensions for auto-enrolment
The Pensions Regulator (TPR) has launched a suite of new guides to help employers with limited pensions experience select a good-quality pension scheme for auto-enrolment.An employer’s guide to selecting a good-quality pension scheme for automatic-enrolment helps employers evaluate whether a scheme is well run, offers value for money and protects ...
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Article
Best and worst pension annuity providers revealed
The Association of British Insurers’ (ABI) Annuity Window comparison tool has found that there is a 31% difference between best and worst conventional annuity rates.The tool, which is compulsory for all ABI members selling annuities to the public, also found (based on a level annuity for a 65-year-old man, living ...
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Article
University of St Andrews launches master trust
The University of St Andrews has launched a master trust to comply with its auto-enrolment duties.It has appointed Now: Pensions to provide the scheme for its 460 eligible employees, who were auto-enrolled on the university’s staging date of 1 July 2013.The University of St Andrews is the second university to ...