All Pensions articles – Page 130
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Article
Government consults on defined ambition pensions
The government has published a consultation into its defined ambition pension scheme.The Department for Work and Pensions (DWP) introduced its proposals for a defined ambition pension in November 2012 in its paper, Reinvigorating workplace pensions.The defined ambition pension is designed to reshape workplace pensions for future generations, create more certainty ...
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Article
Aberdeen confirms acquisition of Scottish Widows’ investment business
Aberdeen Asset Management has confirmed that it is to acquire Scottish Widows Investment Partnership (SWIP), as well as its private equity and infrastructure fund management businesses.The acquisition, which was first proposed in October, includes a long-term strategic relationship with SWIP’s parent company, Lloyds Banking Group.The consideration for the acquisition of ...
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Article
Three raises pensions take up to 80%
EXCLUSIVE: Three has increased its pension scheme take up from 68% of staff to 80% following auto-enrolment.The mobile phone organisation auto-enrolled 702 eligible employees on 1 October after it had postponed from 1 July to align the process with its flexible benefits enrolment window.Seth Russell, director of reward at Three, ...
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Article25% of pensions not compliant with DC code of practice
A quarter (25%) of pension trustees surveyed believe their scheme is not at all compliant with The Pension Regulator’s (TPR) new code of practice for trust-based defined contribution (DC) pensions, according to research by law firm Sackers.Its research, which surveyed 44 pension trustees at the 2013 National Association of Pension ...
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Article
Lloyd’s Superannuation Fund insures DB pension
The Lloyd’s Superannuation Fund (LSF) has concluded a pension insurance buyout for its defined benefit (DB) pension scheme.The transaction, in conjunction with provider Pension Insurance Corporation, covers £40 million of pension liabilities.The LSF is a multi-employer pension scheme that was established in 1929.Its members are employees and former employees of ...
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Article
FTSE 350 pension deficit decreases
The pension deficits of the FTSE 350 reduced from £115 billion at 31 July 2012 to £58 billion at 31 July 2013, while aggregate market caps increased from £1,800 billion to £2,100 billion over the same period, according to research by Hymans Robertson.Its annual FTSE 350 pensions analysis report found ...
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Article
Lorica adds master trust to auto-enrolment product
EXCLUSIVE: Lorica Employee Benefits has partnered Now: Pensions to add a master trust to its integrated auto-enrolment and pensions product, Littleblue.Littleblue, which also includes a group personal pension (GPP) plan, is designed to suit employers with between five and 250 employees, but can be used by both larger and smaller ...
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Article
Pension Protection Fund reports £1.8bn surplus
The Pension Protection Fund (PPF) has reported a surplus of £1.8 billion in its 2012/13 annual report.It also stated the probability of meeting its long-term funding target by 2030 has increased to 87%, an increased from 84% at 31 March 2012.According to the PPF report, its performance owed much to ...
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AnalysisDe-risking pension investments in the run-up to retirement
If you read nothing else, read this…Members of DC pension schemes face critical investment choices in the run-up to retirement.Employers can provide financial guidance to help employees make informed decisions.Employees can choose different investment approaches based on level of risk.However, the numbers are set to rise. Some 400,000 people applied ...
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Case Studies
Arriva chooses lifestyle strategy for default fund
The scheme’s default fund uses Standard Life’s lower-to-medium-risk lifestyle strategy, which aims to provide long-term growth whilst investing in a diversified portfolio of assets. This is the second lowest risk level of the five risk-rated lifestyle strategies Standard Life has developed, so employers can select the risk appetite that is ...
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Case StudiesMitie Group integrates employee benefits across businesses
This has posed a significant challenge for the strategic outsourcing organisation which, historically, has grown through a cluster of smaller businesses that have been allowed a degree of autonomy, including in the benefits offered to employees.Katherine Thomas, group HR director, says: “When you start to bring that all together to ...
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Article
Ipswich Town FC to launch master trust
Ipswich Town Football Club is to launch a master trust to comply with pensions auto-enrolment.From 1 November, Now: Pensions will provide the pension, which will be available to the football club’s 600 eligible employees, including office staff and match-day stewards.Denise Booth, management accountant at Ipswich Town Football Club, said: “We ...
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Article
Employers should provide wider insurance benefits
The majority (92%) of respondents believe employers have a role to play in the provision of wider insurance benefits, according to research by Swiss Re.Its Insurance report 2013: Connecting generations – protecting generations found that, although two-thirds of respondents see the value of insurance, many of them find financial services ...
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Article
NAPF launches Stewardship Disclosure Framework
The National Association of Pension Funds (NAPF) has launched a Stewardship Disclosure Framework.It aims to provide pension funds with greater transparency around the stewardship policies and activities of the 206 asset managers who are signatories of the Stewardship Code.The framework, which is based around the seven principles of the Stewardship ...
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Article
Webb says government will get tough on pension charges
Pensions minister Steve Webb (pictured) hinted that the government is to take a tough stance on pension charges in an upcoming consultation, which will respond to the Office of Fair Trade’s (OFT) paper on the defined contribution (DC) pension market.During a speech at the National Association of Pension Funds’ (NAPF) ...
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Article
DOD’s blog: Time to stop screaming about an auto-enrolment crunch
This week I have been talking pensions, largely of the auto-enrolment variety, up at the National Association of Pension Funds’ annual conference in Manchester.What has been great is the positive attitude to how well auto-enrolment has gone to date.But with typical British cynacism, pensions experts are wary as to how ...
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Article
Interface Europe changes DB pension adviser
Carpet tile manufacturer Interface Europe has appointed KPMG to provide a range of trustee services for its defined benefit (DB) pension scheme.These include actuarial and investment consulting, as well as administration and payroll services.The scheme, which is closed to future accrual, has around £100 million of assets and 1,400 members.Simon ...
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Article
48% will stay in pension post-auto-enrolment
Almost half (48%) of respondents will remain in their employer’s pension scheme once they have been auto-enrolled, according to research by information specialist EDM Group.Its research, which surveyed 1,586 employees, found that less than a quarter (23%) have either immediately opted out of their employer’s pension scheme post-auto-enrolment or plan ...
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Article
Confidence in pensions rises to 59%
Confidence in pensions among employees has risen in the past 12 months, according to research by the National Association of Pension Funds (NAPF).Its Workplace pensions survey, which measures employees’ perspectives on workplace pension savings and their preparations for retirement, found that confidence, particularly among staff already saving into a pension ...
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Article
Government announces auto-enrolment changes
The Department for Work and Pensions has announced new changes to auto-enrolment legislation, which are aimed at making it easier for future tranches of employers to enrol their employees into a pension scheme.The government received 112 responses to its consultation launched in September 2012 and has now finalised amendments to ...