All Pensions articles – Page 138
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Article47% of employers review default fund annually
Just over half (47%) of respondents review the investment strategies and aims of their default investment fund at least annually, according to Employee Benefits/Capita Pensions research 2013. (This does not include respondents that do not review their own strategies, or those that do not know).The survey, conducted among 370 HR ...
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Article36% of employers use provider's default fund
More than a third of respondents (36%) use the default investment option offered by their pension provider, according to Employee Benefits/Capita Pensions Research 2013.The survey, conducted among 370 HR and benefits managers, found that 31% entrust the selection of investment funds in their default offering to their adviser, while 27% ...
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Article
Employee Benefits/Capita Pensions Research 2013
Read digital version of Employee Benefits/Capita Pensions Research 2013.It reveals:scheme type - the schemes proving most popular with employers and contribution rates being adopted for auto-enrolment;communication - how employers are communicating their pension schemes and why;default investments - employers’ default options and employee take-up;auto-enrolment - top tips from employers that ...
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Article
Supreme Court overturns Nortel and Lehman pension ruling
Administrators for Nortel Networks and Lehman Brothers have won a case in the Supreme Court, after it ruled that The Pensions Regulator’s (TPR) does not have priority rights to the assets of insolvent companies.The Supreme Court overturned the decision of the Court of Appeal and held that financial support directions ...
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Article
Pension engagement linked to communication
The investment employers make in communicating pension schemes to their employees has a direct effect on their attitude towards a pension and contribution levels regardless of their salary, according to research conducted by London School of Economics (LSE) and commissioned by Thomsons Online Benefits.The impact of a total reward approach ...
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Article
Top discussions from the Employee Benefits LinkedIn group
Labels such as ‘generation Y’ are too simplistic to work out how best to communicate, and therefore engage, with people.However, there is growing evidence to suggest the increasing proliferation of smartphones is facilitating how all ages (and generations) communicate.Indeed, I would argue that there is growing expectation from all ‘groups’ ...
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Opinion
Jamie Clark: Consultancy charge ban might cause opt-outs
Employers that are unwilling or unable to pay an explicit fee to a ?nancial adviser will not bene?t from the advice and support that advisers can bring, which could restrict the choice of provider.This could lead to worse member outcomes due to restricted investment choice, lack of workplace marketing material ...
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Article
A million UK workers now auto-enrolled
The millionth UK employee has been auto-enrolled into a workplace pension scheme.The landmark figure is included in the monthly auto-enrolment registration report published by The Pensions Regulator.The Travis Perkins Group was among the employers that registered when the one million-employee mark was reached. The builders merchants has automatically enrolled around ...
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Article
Barclays and Benefex partner for auto-enrolment services
Barclays Corporate and Employer Solutions (C&ES) has partnered with Benefex to deliver pensions auto-enrolment services to employers.Barclays C&ES is to use Benefex’s Enroller technology and additional services to support employers through the auto-enrolment process.Enroller is part of the Benefex’s RewardHub portal, which manages all aspects of auto-enrolment, including administration, employee ...
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Article
ISS uses Nest to comply with auto-enrolment
Employment business ISS has launched the National Employment Savings Trust (Nest) to comply with its auto-enrolment duties.From 1 July, all eligible employees had 1% of salary deducted, which ISS matched. In line with auto-enrolment legislation, employees’ pension contributions will rise to 3% of salary by 2017 with ISS adding another ...
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Article
Craig Berry: How do you get staff to understand how much to save for retirement?
But moralising about under-saving by individuals at a time of wage stagnation and with an economic policy agenda dependent on higher consumer spending, is not an effective way to prompt higher pension contributions.It is absolutely right that the pensions system is now based on inertia rather than engagement. Auto-enrolment is ...
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Article
Tim Thomas: How do you get staff to understand how much to save for retirement?
Many employees already have the opportunity to join a workplace pension, but have chosen not to do so, and confidence in pensions still remains far below where it needs to be. Times may be tough, and the decision to maximise take-home income is the right one. The case then needs ...
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Article
TPR publishes code on trust-based DC pensions
The Pensions Regulator (TPR) has published a revised code of practice on trust-based defined contribution (DC) pension schemes.The code, which sets out practical guidance to help trustees meet the legislative requirements for running trust-based DC schemes, has been laid before Parliament and the Northern Ireland Assembly.It is expected to come ...
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ArticleGovernment needs holistic view of retirement
There is no over-arching programme or single accountability for encouraging people to save for retirement, according to a report by the National Audit Office (NAO).Its Government interventions to support future retirement income report highlights the significant consequences for the taxpayer as people live longer, spend longer in retirement, and have ...
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Article
OFT publishes progress update on DC pensions market
The Office of Fair Trading (OFT) has published a progress update on its study into the defined contribution (DC) pensions market.It has collected and reviewed evidence on the sector, and will next explore certain issues that have arisen during the evidence review so far.On the basis of the work it ...
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Article
UK Coal transfers DB pension to the PPF
UK Coal’s defined benefit (DB) pension scheme has been transferred to the Pension Protection Fund (PPF) as the mining firm enters administration.Working closely with the PPF, UK Coal has developed a plan that will provide protection on accrued benefits for employees in the scheme. Members of the industry-wide Mineworkers’ Pension ...
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Article
Coke sees 12% auto-enrolment opt-out
EXCLUSIVE: Coca-Cola Enterprises has seen 12% of its eligible workforce who were auto-enrolled into its group personal pension (GPP) plan in April 2013 opt out.134 of the 1,151 employees who were auto-enrolled (around 25% of the organisation’s workforce) have opted out.Rashree Chhatrisha, senior benefits analyst at Coca-Cola Enterprises, said: “The ...
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Article
Nest restrictions to be lifted in 2017
The government has announced that the restrictions on the National Employment Savings Trust (Nest) will be lifted in April 2017.The restrictions include a cap on annual contributions, as well as a ban on transfers in and out of the scheme.The announcement follows a government call for evidence on the restrictions. ...
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Article
EMI Group completes DB pension buyout
EMI Group has completed a £1.5 billion pension insurance buyout for its defined benefit (DB) pension scheme.The buyout, which was completed by Pension Insurance Corporation (PIC), covers 20,000 members.Citigroup has been the sponsoring employer of the EMI Group Pension Fund since 2012. It was advised by consultancy Mercer on structuring ...
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Article
Value of executive pension provision rises to £242,000
The average value of a FTSE 100 executive’s pension provision has risen to £242,000 over the past two years, according to research by consultancy Lane Clark and Peacock (LCP).The 2013 LCP FTSE 100 Executive pensions survey, which questioned 340 executive employees in FTSE 100 organisations, showed a 7.5% rise in ...