All Pensions articles – Page 132
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Article
Employers should limit pension scheme fund choice
Employers should limit the pension fund choice they offer employees to maximise their propensity to invest.Speaking at the National Association of Pension Funds’ annual conference and exhibition 2013, Andrew Cheseldine, a partner at actuarial consultancy, Lane, Clark and Peacock, argued that employers that offered employees too much fund choice actually ...
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DWP consults on pension charges
The Department for Work and Pensions (DWP) has launched a consultation into charges on workplace pension schemes.Better workplace pensions: a consultation on charging, follows the Office of Fair Trading’s (OFT) market study into defined contribution (DC) pensions, which was published in September.The DWP’s proposals include:Mandating disclosure for pension scheme members ...
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Debbie Lovewell: Is pension charges cap enough?
It proposed three possible options for the cap:A charge cap of 1% of the funds under management, reflecting the current stakeholder pension cap;A lower charge cap of 0.75%, reflecting the charging levels already being achieved by many schemes;A two-tier ‘comply-or-explain’ cap, which would set a standard cap of 0.75% for ...
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Royal London to rebrand pensions and life business
Royal London is to ditch its UK life, pensions and investment brands and bring the businesses under the Royal London brand umbrella.Bright Grey, Scottish Life and Scottish Provident are expected to be phased out over the next two years.The organisation’s fund management division, Royal London Asset Management, will retain its ...
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JP Morgan launches DC business
JP Morgan Asset Management has launched a dedicated defined contribution (DC) pension business for the UK market.UK SmartRetirement offers a range of target date funds, which take into consideration member behaviour analysis and long-term market assumptions, to create default investment funds that comprise different investment types.Simon Chinnery (pictured), head of ...
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Pension industry needs to be bold to deliver best value
The pensions industry needs to be bold if it is to deliver increased value and the best outcome for members.Defined contribution (DC) scheme charges, in particular, need to be brought into line across all providers with greater transparency.Speaking in a panel debate at the National Association of Pension Funds’ annual ...
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Goldman Sachs and Molson Coors awarded Pension Quality Mark
Goldman Sachs and Molson Coors are the latest employers to be awarded the Pension Quality Mark (PQM), which recognises employers’ defined contribution (DC) pension schemes.The PQM standard was awarded to both employers by pensions minister Steve Webb at the National Association of Pension Funds’ (NAPF) annual conference in Manchester on ...
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Michelin awarded PQM for fourth year
Michelin has retained its Pension Quality Mark (PQM) for a fourth consecutive year.The award recognises the tyre manufacturer’s commitment to helping employees save for retirement through its trust-based defined contribution (DC) pension scheme.The PQM, which was launched in 2009 by the National Association of Pension Funds, recognises DC schemes with ...
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Weight Watchers auto-enrols second group of staff
Weight Watchers will auto-enrol its second cohort of staff into a pension on 26 October. These will be drawn from the 1,600 people who lead Weight Watchers meetings, called ‘leaders’.To date, 5% of its 200 head office staff, who were auto-enrolled on 1 August, have opted out of the pension ...
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ArticleAuto-enrolment contributions will not be enough
If a median earner saves only at the minimum contribution rate of 8% of a band of earnings, required under auto-enrolment legislation, throughout their working life, they will have less than a 50-50 chance of achieving an adequate retirement income, according to research by the Pensions Policy Institute (PPI).Its report, ...
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Article
Employers want eligibility criteria altered for auto-enrolment
Half (50%) of respondents who have passed their auto-enrolment staging date said the number one change they would like to see to the legislation is the removal of the age and earnings eligibility criteria so that all UK workers would have to be auto-enrolled, according to research by law firm ...
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Passive investment funds perform better than active funds
Passive investment funds cost less than active ones, and perform better over most time periods, according to research by investment management firm Evercore Pan-Asset (EPA).The governance revolution paper, which analysed 14 equity, bond and alternative asset classes, showed that the passive funds selected performed better than the median actively-managed fund ...
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Aberdeen in talks to acquire Scottish Widows
Aberdeen Asset Management has confirmed it is in talks with Lloyds Banking Group about acquiring Scottish Widows Investment Partnership.Aberdeen Asset Management said the proposed transaction would offer substantial cost efficiencies and synergies to the business, and that it would reinforce its commitment to a progressive dividend policy and to return ...
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95% of LV= pension members trust their employer
The majority (95%) of LV= pension members who completed its inaugural pension survey trust their employer to make a difference in their path to retirement.Speaking at the National Association of Pension Funds (NAPF) conference in Manchester on 17 October, Mike Acred, pensions manager at the insurance firm, said: “I was ...
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95% not confident about reaching retirement goals
The majority (95%) of young and middle-aged adults do not feel confident they are on track to reach their retirement goals and are looking to their employers for help, according to research by State Street Global Advisors (SSGA).Its UK Defined contribution research, which surveyed more than 1,000 respondents who participate ...
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Article94% of over 55s glad to be pension savers
The majority (94%) of respondents aged over 55 who participate in a workplace pension scheme are glad they opted to do so, according to research by Aviva.Its Real retirement report, which surveyed almost 18,000 UK consumers aged over 55, examines the financial pressures affecting the UK’s three ages of retirement: ...
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Trader Media to auto-enrol 310 employees
EXCLUSIVE: Trader Media Group is to auto-enrol 310 employees into its group personal pension (GPP) plan on 1 November.The media organisation, which owns titles such as Auto Trader, postponed auto-enrolment from 1 September.Currently, 700 of its more than 1,000 employees are already members of its GPP, which is provided by ...
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Warburtons sees 2.3% auto-enrolment opt-out
Warburtons has had 2.3% of its auto-enrolled employees opt out of its trust-based defined contribution (DC) pension scheme, said Anne Hunt, pensions manager at the bakery, at the National Association of Pension Funds (NAPF) conference in Manchester on 17 October.The bakery, which has 4,500 employees across 26 sites, auto-enrolled 1,800 ...
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18% want pension invested in ethical funds
Almost one in five (18%) respondents would like to see 100% of their pension scheme invested in a fund that avoids anything where there may be a negative environemental, social or goverance impact, according to research by the Ethical Investment Research and Information Service (EIRIS).Its research, which was launched to ...
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Communications needed around pension contributions
This article has been supplied by Scottish WidowsThe 2013 Scottish Widows Workplace pensions report found that low levels of staff understanding around pension contributions, both in terms of their own and their employer’s contributions, has led to a fall in the amount UK workers are prepared to save into their ...