All Pensions articles – Page 13
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AnalysisWhat are the benefits of educating employees around pensions investments?
Need to know:There are plenty of benefits to getting employees engaged with their pensions investments, but employers should to be clear about what behaviour they want to encourage.Investments can be made meaningful by using layman's terms to explain the funds, and what they mean for employees.Bringing environmental, social, and corporate ...
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Case StudiesIngenuity starts with the basics of pension scheme investment communication
When it comes to communicating to employees about pension scheme investing, Gary Douglas, finance director of new business agency Ingenuity, is of the firm belief that you must get the basics right first.Ingenuity, which employs just under 80 people, has historically had quite a young staff body. Accordingly, pensions were ...
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AnalysisHow is the cost-of-living crisis affecting what employees want from their benefits packages?
The cost-of-living crisis has employees demanding pay rises in line with inflation, but many employers are unable to afford this long-term.Benefits that support financial wellbeing and education, including day-to-day budgeting and discounts, can help pay stretch further without raising pay.Employers should focus on practices that are sustainable and work for ...
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ArticleNatWest acquires majority shareholding in savings fintech Cushon
Credit: William Barton / Shutterstock.comBanking organisation NatWest Group has acquired 85% shareholding in workplace savings and pensions fintech Cushon, with the remaining 15% retained by Cushon management.NatWest made the move in order to offer commercial customers and their employees a suite of financial wellbeing products. It follows similar acquisitions by ...
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Article20% of DC pension members opting out or reducing savings
One in five defined contribution (DC) pension schemes reported an increase in requests to reduce or opt out of pension savings over the past three months, according to research by Aon.The data came from the professional services firm’s first edition of DC Today, a pulse survey tracking UK DC schemes, ...
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Supplier articleThe greatest taboo in the workplace
Menopause and Eldercare.Even on their own they are subjects that people find hard to talk about. For one reason or another these key parts of human life lack the transparency they deserve. For the longest time, menopause has been a very uninformed subject. Seemingly swept under the proverbial carpet, it ...
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ArticleDepartment of Work and Pensions launches collective defined contribution consultation
The Department of Work and Pensions (DWP) has launched a public consultation on a policy framework for broadening collective defined contribution (CDC) provision in pension schemes.The consultation was launched to get views from the public on policy proposals for broadening CDC provision beyond single or connected employer schemes, to accommodate ...
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ArticleNRMA Group to continue pension contributions during unpaid parental leave
Australian employer National Roads and Motorists' Association (NRMA) Group has agreed to pay superannuation on the unpaid portion of parental leave as part of its aim to close the gender pay gap for females.The superannuation payment, a type of pension plan in Australia, will increase by an average of $5,600 ...
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Case StudiesSiemens encourages young staff to start building up pension contributions
Global technology organisation Siemens, which employs approximately 7,000 employes in the UK, believes it is important for its younger employees to understand that pension saving is most effective when they start early on. This gives them more time to build up contributions and investment returns, and make the most of ...
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AnalysisHow to design pension communications to engage younger workers
One effective way in which employers can help drive employee engagement with pensions is by ensuring ease of access, so they can engage more easily and more regularly.Different age groups will ultimately respond to information in different ways, so employers should consider using different methods of communication according to employees' ...
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Supplier articleWhat is the impact of the cost of living crisis on people’s ability to save for retirement?
Since the pandemic, people have been faced with a multitude of challenges impacting their finances and none more so than the cost of living crisis. Recently, the pressures on household income has raised concerns that members will look at their pension contributions as a way of cutting back on their ...
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ArticleInterserve completes £400 million pension scheme buy-in
Interserve, a construction firm that went into administration in 2019, has completed a £400 million buy-in for its pension scheme members.The transaction was conducted with provider Aviva, and secured the benefits of more than 7,000 scheme members and follows a £300 million pensioner-only buy-in that took place in 2014.Aviva insured ...
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OpinionKaty Harries: To consolidate or not to consolidate, that is the question
We have now reached 10 years of automatic-enrolment, which has led to an increase in the value of pension savings and the number of people saving for their retirement. The vast majority of these people were enrolled into defined contribution (DC) schemes.As more people joined DC schemes, the government raised ...
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OpinionMax Ballad: Forfeiture rules should allow trustees discretion to pay benefits to pensioners
Imagine you go into a shop to buy an item for 95 pence and hand over £1. You wait for your change. After a short while the shopkeeper closes the till and wishes you a good day. “No change?” “Sorry sir, in this shop if you don’t ask for your ...
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ArticleForget Me Not introduces salary sacrifice pension scheme
Huddersfield-based children’s Hospice charity Forget Me Not has launched a salary sacrifice pension arrangement in order to look after the financial wellbeing of its 140 employees.Through a partnership with financial wellbeing platform Maji, the charity will pay the total pension contribution on behalf of each member of its workforce, and ...
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ArticleGovernment to protect pensions triple lock
Autumn budget 2022: The government has confirmed that the pensions triple lock and credit will be protected, and rise by 10.1% in April 2023.Chancellor of the exchequer Jeremy Hunt told the House of Commons that the state pension will be uprated by inflation, rather than in line with average earnings ...
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OpinionEmily Whitelock: Can pensions auto-enrolment adjustments increase saver engagement?
In its blog published 4 November, AE has come a long way, but we all have further to go, the Pensions Regulator (TPR) recognises the successes of automatic-enrolment in encouraging retirement saving. It also acknowledges that it could do more to enforce employer compliance with AE obligations.Is there scope, 10 ...
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AnalysisHow does the enhanced climate change reporting affect workplace pension schemes?
Need to know:Trustees of large pension schemes and master trusts now have an additional obligation to publish a forward-looking measure of their scheme’s alignment with the Paris Agreement.There is effectively a choice of three methodologies to accomplish this.Trustees and employers should ensure the pension investment strategy aligns with the business’s ...
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Case StudiesMaterial Impact ensures pension investment plan aligns with sustainability ethos
Material Impact is a marketing and PR firm based in London, whose experience includes 61 clients in five continents, ranging from JP Morgan and $130 billion fund administrator Crestbridge to the Institute of Neurodiversity and Imperial College Business School. Established in January last year, it has eight members of staff, ...
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ArticleLaura Trott appointed minister for pensions
Image credit: Gov.ukPrime Minister Rishi Sunak has appointed Laura Trott MBE as minister for pensions, after predecessor Alex Burghart officially held the role for less than one month.Trott was appointed on 27 October, and the Department for Work and Pensions (DWP) made the announcement on 7 November via its official ...