All Pensions articles – Page 135
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Article
PWC raises partner pay and lowers DB deficit
PricewaterhouseCoopers (PWC) increased its profit for partners from £679,000 in 2012 to £705,000 for the year ended 30 June 2013.The PwC UK Annual report 2013, which was published on 9 September, also disclosed that staff bonuses increased by 4% to £87 million.It also reported that the professional services firm’s defined ...
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Supplier article
Carol Baylis: The role of technology in benefits management
Carol Baylis (pictured), total rewards director at Hitachi Data Systems, will speak at Employee Benefits Live on 26 September about the role of technology in employee benefits management.Employee Benefits asked her a few key questions:1. What has been your biggest challenge in 2013?We have a global request to drive benefits ...
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Opinion
Peter Murphy: Landmark ruling for DB schemes and sponsor
The ruling by the Supreme Court in the Nortel and Lehman versus The Pensions Regulator (TPR) case has been hailed as a landmark decision with significant consequences for lenders and the restructuring community. But is it as important for trustees of defined benefit (DB) pension schemes and their sponsors? At ...
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Opinion
Malcolm McLean: Younger staff should pay more attention to pensions
Worrying what their financial standing might be in 40 or 50 years’ time is not something you would have thought would trouble most young people unduly.Although one recent poll did suggest there is a growing anxiety among some in their 20s about possible income shortfalls and healthcare problems for their ...
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Article22% of employers to continue running DB pension
More than one-fifth (22%) of respondents that offer a defined benefit [DB] pension plan will continue to offer it as a fully-functional scheme in the next two years, according to Employee Benefits/Capita Pensions Research 2013.But 15% of respondents with a DB scheme plan to review their plan’s future and 8% ...
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ArticleMost employers plan to auto-enrol all staff into same scheme
One in 10 employers that have auto-enrolled staff used different pension plans for executives and the rest of the workforce, according to the Employee Benefits/Capita Pensions Research 2013.But the research, which surveyed 370 HR and benefits managers, found that the vast majority of employers that have gone through, or still ...
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Article
Kodak pension plan finalises acquisitions
The UK Kodak Pension Plan (KPP) has completed its acquisition of the Kodak Personalised Imaging and Document Imaging businesses.KPP acquired the organisations from Eastman Kodak Company and subsequently created a new organisation, Kodak Alaris.The new company will focus on strategic, ongoing investments for these organisations.The move follows KPP filing the ...
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Opinion
Richard Fleet: High auto-enrolment contributions disadvantagous
I refer to your article Calculating the cost of auto-enrolment (August 2013).The summary opines that: “An investment is being made, so employers should make sure that there is value in that investment by communicating with, and educating, employees.”I have to take issue with this. There is no question of this ...
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Article
InterContinental Hotels chain completes £440m pension buy-out
InterContinental Hotels has completed a £440-million buy out for the Intercontinental Hotels UK Pension Plan.The deal means that the benefits payable to the defined benefit (DB) pension plan’s 3,000 members, including any missing beneficiaries that emerge in the future, have been insured by Rothesay Life.The move means the plan’s members ...
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Article
Camden and Islington NHS aims for payroll savings
Camden and Islington NHS Foundation Trust has appointed a new payroll and pension services provider, through which it is on track to deliver savings of 55% on the cost of its payroll provision.The trust has awarded Equiniti ICS a five-year contract to provide fully managed services to the organisation’s defined ...
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Article
DB pension scheme deficits improve
The total deficit of UK private sector defined benefit (DB) pension schemes has fallen to £117 billion, according to research by JLT Employee Benefits (JLT EB).The organisation’s monthly index showing the funding position of all UK private sector DB pension schemes under the standard accounting measure (IAS19 / FRS17), found ...
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Article
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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Article
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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Article
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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Article
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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Article
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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Article
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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Article
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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Article
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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Article
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) ...