All Pensions articles – Page 142
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AllianceBernstein rolls out new ethical target date funds
AllianceBernstein has rolled out a new range of ethical target date funds to the UK defined contribution (DC) market.The range will be managed using underlying FTSE4Good indices and UK gilts.The Pensions Trust is the first adopter of the funds. It will offer the range to all its DC employer schemes ...
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New trade union share owners group to address pay and pensions
Trade union groups the Trade Unions Congress (TUC), Unison and Unite have teamed up to launch a group that aims to put union values at the heart of corporate governance on issues such as excessive directors’ pay.Trade Union Share Owners will work with shareholder advisory group Pensions and Investment Research ...
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Pilkington Glass to close DB scheme to future accrual
Pilkington Glass is to close its defined benefit (DB) pension scheme to future accrual and move its 1,489 members into the organisation’s group personal pension (GPP) plan.The manufacturer has paid £120 million in additional contributions into the Pilkington Superannuation Scheme (PSS) over the past four years. However, the cost of ...
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Kingfisher lowers pension deficit by £11m
Kingfisher has lowered its net pension deficit by £11 million since closing its defined benefit (DB) pension scheme to future accrual from 30 June 2012.The retailer, which is the parent company of six organisations, including B&Q and Screwfix, showed in its 2012 Preliminary results that the pension gain includes £27 ...
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AnalysisAuto-enrolment tips from Australia and New Zealand
IF YOU READ NOTHING ELSE, READ THIS…The Australian Superannuation Guarantee Fund was introduced 20 years ago as a compulsory scheme.New Zealand’s Kiwisaver, which was launched in July 2007, more resembles auto-enrolment in the UK, with employees allowed four weeks to opt out.Areas where UK employers can learn from both implementations ...
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University of Edinburgh rolls out Nest
EXCLUSIVE: The University of Edinburgh is to introduce a defined contribution (DC) pension scheme on 1 March 2013 as part of its auto-enrolment compliance duties.The university will roll out the national employment savings trust (Nest) to its 12,300-strong workforce.To comply with auto-enrolment requirements, the university will contribute the minimum of ...
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ITV defined benefit pensions deficit rises
ITV’s total pension deficit has increased by £161 million since December 2011.Its defined benefit (DB) pension schemes had an aggregate IAS 19 deficit of £390 million at 31 December 2011. This had risen to £551 million at 31 December 2012.In its Preliminary results 2012, the media organisation attributed the deficit ...
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Reading Transport switches pensions adviser
Reading Transport has switched advisers for the actuarial and administrative services of its final salary pension scheme.The £26-million scheme, which has 500 members, will now be advised by Punter Southall.Greg Chambers, finance director at Reading Transport, said: “We engaged Punter Southall to provide actuarial and administrative services for our defined ...
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Auto-enrolment prompts benefits reviews
More than a third (38%) of respondents are likely to review their organisation’s benefits package at the same time as complying with auto-enrolment legislation, according to research by Aviva.Its second Working lives report, which surveyed 760 private sector employers, found that, over the next 12 months, 63% of respondents will ...
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Royal Institution of Chartered Surveyors selects auto-enrolment system
The Royal Institution of Chartered Surveyors (RICS) has selected a technology system to enable it to comply with its auto-enrolment duties.The society, which employs more than 650 staff worldwide, has chosen cloud-based software from Fairsail. The product is designed to link in with existing Hr and payroll systems, as well ...
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Hargreaves Lansdown launches integrated workplace benefits system
Hargreaves Lansdown has launched an integrated corporate wrap and flexible benefits system.The workplace benefits system integrates Hargreaves Lansdown’s Corporate Vantage investment platform, which includes a pension, a cash individual savings account (Isa), a stocks and shares Isa and an investment account; with flexible benefits technology provided by Staffcare.The system, which ...
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33 new international pension plans established in 2012
Thirty three new international pension plans (IPPs) were established in 2012, according to research by consultancy Towers Watson.Its annual International pension plan survey, found the total number of international plans managed by 391 responding employers now totals 403.The survey also found that international pension plans are being developed within multi-country ...
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Helen Duncan: Middleware is key to auto-enrolment technology
KEY POINTSOrbit is 100% automated and manages the entire auto-enrolment process.The system provides employees with access to an auto-enrolment helpdesk, including a telephone helpline.Orbit stores all auto-enrolment activity for audit purposes.The cornerstone of any successful benefits solution is always expert consultancy, and technology should allow that consultancy to be put ...
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Randstad launches multi-employer trust
Randstad is to launch a multi-employer trust to comply with its auto-enrolment duties.The recruitment firm will reach its staging date on 1 March 2013, when its 20,000 eligible agency workers will be auto-enrolled.The scheme will be provided by Now: Pensions.Ian Naylor, legal director at Randstad, said: “Our decision to appoint ...
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Pension scheme membership falls
Workplace pension scheme membership dropped to 46% in 2012, according to research by the Office for National Statistics (ONS).Its 2012 Annual survey of hours and earnings: summary of pensions results, compiled before the introduction of auto-enrolment in October 2012, found that pension scheme membership hit a 15-year low in 2012.The ...
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Most DB pensions have long-term objectives
The majority (90%) of defined benefit (DB) pension plans now have a long-term objective, compared to 60% in 2009, according to research by Aon Hewitt.Its Global pension risk survey 2013 polled 220 UK DB plans with combined membership of more than three million people and representing around £300 billion of ...
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Jamie Fiveash: Software support is vital for auto-enrolment
KEY POINTSThe B&CE Employer Assistance Program is designed to ensure employers make the right contributions and enable them to download employee communications.The Employer Assistance Program is one of a range of tools B&CE provides to help employers comply with auto-enrolment.To date, 130 of B&CE’s existing and new, larger employer customers ...
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Morten Nilsson: How to navigate the auto-enrolment maze
KEY POINTSAuto-enrolment is a complex assignment that can expose employers to financial and reputational risk.Now: Pensions is an occupational pension scheme that has been designed to support employers of all sizes.Now: Pensions can also provide simple, low-cost life insurance for employees at competitive rates.Auto-enrolment is a complex assignment which, if ...
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Nick Oram: Take auto-enrolment one step at a time
KEY POINTSStar delivers a step-bystep consultancy programme for auto-enrolment.Enrich can incorporate middleware into a Star package.Compliance is continuous throughout Enrich’s auto-enrolment solutionsAuto-enrolment requires UK employers to auto-enrol all eligible employees into a qualifying pension scheme if they are not already a member. The largest employers, those with 120,000-plus employees, began ...
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Matt Waller: Integrated software simplifies auto-enrolment
KEY POINTSEnroller is Benefex’s purpose-built, fully-mobile software that simplifies auto-enrolment for employers and their employees.Benefex offers a compliance guarantee to help employers meet their regulatory obligations.Enroller links into RewardHub, Benefex’s reward and benefits software.Auto-enrolment is a potentially hazardous minefield for the uninitiated employer, because of the complex requirements involved in ...