All Pensions articles – Page 147
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Article
Pension contributions are flatlining
The average combined pension contributions by employers and employees to small organisations’ defined contribution (DC) pension schemes have remained the same since 2010, according to research by the Association of Consulting Actuaries.The ACA 2012 smaller firms’ pension survey found that combined contributions into trust-based schemes have remained static at 9% ...
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Article
Regulator consults on DC pensions
The Pensions Regulator (TPR) has opened a consultation on a regulatory framework that will ensure employees in defined contribution (DC) pension schemes get the best return on savings.Its Regulating work-based defined contribution pension schemes consultation sets out six principles and 31 quality features that occupational DC trust-based pension schemes should ...
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Article
Ince and Co raises GPP take-up
EXCLUSIVE: Ince and Co has seen a 24% increase in employees enrolled in its group personal pension (GPP) plan since it switched providers in preparation for auto-enrolment.The international law firm, which has a staging date of February 2014, replaced its GPP in October 2012 as part of its strategy to ...
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Opinion
Henry Tapper: Auto-enrolment will continue to dominate
Auto-enrolment will dominate the pensions market in 2013, but for the 550,000 people reaching what we used to call ‘normal’ retirement dates, the future looks bleak.There may be some easement in interest rates as the impact of quantitative easing wears off, but annuity rates are likely to remain at historic ...
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Article
Kingston upon Thames appoints investment consultant
The Royal Borough of Kingston upon Thames’ Pension Fund has appointed an investment consultant via a framework agreement.The local government pension scheme is around £430 million in size and has 11,000 members.The framework agreement aims to deliver greater savings and efficiency in the public sector through shared services and joint ...
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Article
Capita appoints head of investment consulting
Capita Employee Benefits has appointed Bobby Riddaway head of investment consulting.Riddaway was previously principal in the investment team at Buck Consultants.He has also worked at Hewitt Associates as a senior investment consultant to corporate and trustee pension schemes in the UK and the US, and spent eight years as head ...
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Article
NAPF appoints investment lead
The National Association of Pension Funds (NAPF) has appointed Helen Roberts as lead to work on investment issues across defined contribution (DC) and defined benefit (DB) pension schemes.Roberts’ work will include engaging in debates around low gilt yields and the impact of the current economic climate on asset allocation strategies, ...
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Article
Regulator publishes contract-based pension analysis
Analysis by The Pensions Regulator (TPR) shows the Financial Services Authority’s (FSA) contract-based pension rules and guidance align in many ways with its defined contribution (DC) quality features.The analysis was published to coincide with TPR’s consultation on DC standards for occupational trust-based pension schemes, which was launched on 10 January.A ...
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Article
Survey: Does HR care about default funds?
The next big scandal could be the lack of knowledge and interest that benefits and human resources teams have in the pension investment choices offered to staff.Increasingly, employees are expected to choose their own funds when they join a workplace pension. Most opt for the ‘default fund’ and the assumption ...
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Opinion
Will Aitken: Auto-enrolment will continue to dominate in 2013
Auto-enrolment will continue to dominate the UK pensions agenda in 2013. Opt out rates will dramatically undershoot the 30% estimates that have been estimated as inertia proves to be a strong force.Employers selecting pension providers in the second half of 2013 will find that it is no longer a buyers’ ...
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Article
Ladbrokes launches master trust pension
Ladbrokes has launched a master-trust pension scheme to comply with auto-enrolment.The scheme will be available to 14,000 eligible employees, who will be auto-enrolled from 1 March 2013.It will be provided by Legal and General Workplace Savings, and Pitmans Trustees has been appointed as independent trustee.Phil Rixon, pensions and benefits manager ...
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Article
Rexam appoints pension scheme actuary
Rexam Pension Plan has appointed Towers Watson as scheme actuary to its £1.8 billion defined benefit (DB) pension scheme.The global consumer packaging business and manufacturer of beverage cans’ scheme has around 23,000 members.Graham Parrott, chairman at Rexam Pension Trustees, said: “We are pleased to announce the appointment of Towers Watson ...
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Article
DWP sets auto-enrolment earnings threshold
The Department for Work and Pensions (DWP) has set the earnings threshold for auto-enrolment at £9,440 for 2013/14.In its response to the consultation, Automatic enrolment earnings thresholds review and revision 2013/14, the government has also proposed setting the lower limit of the qualifying earnings band at £5,668 and the upper ...
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Article
Merchant Navy enters into pension buy-in
The Merchant Navy Officers Pension Fund (MNOPF) has entered into a bulk annuity insurance policy for around £680 million of members’ benefits in its defined benefit (DB) pension scheme.The insurance policy covers around 40,000 members of the MNOPF’s old section, which closed in 1978.Rothesay Life is providing the insurance policy, ...
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Article
A third of SMEs ready for auto-enrolment
One in three (38%) small and medium-sized (SME) respondents are ready for auto-enrolment ahead of their staging dates, according to research by Jelf Employee Benefits.Its Auto-enrolment tracker research showed a slight improvement from May 2012, when 31% of respondents were aware of their staging date and had started to prepare.Steve ...
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Article
Cost is biggest auto-enrolment concern
EXCLUSIVE: Cost is the biggest concern for employers implementing auto-enrolment, however, 61% of respondents do not yet fully understand how much the process will cost their business, according to research by Vebnet.The research, which was carried out by Research Now, found that the second biggest concern is the administrative burden ...
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Article
Sports trusts come together for auto-enrolment
Thirty-six member trusts of national body The Sports and Recreation Trust Association (Sporta) have banded together to establish an auto-enrolment scheme.The move will enable them to benefit from greater economies of scale resulting from the negotiations of a larger group.Sporta has more than 100 member trusts across the UK, made ...
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Article
LV= completes longevity insurance contract for DB pension
LV= has completed an £800 million longevity insurance contract for its defined benefit (DB) pension scheme.The contract, with reinsurer Swiss Re, includes insurance of longevity exposure for 5,000 individuals who were members of the scheme as of 31 December 2011.It covers a broad population, extending beyond in-payment pensioners to also ...
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ArticleWhite paper — auto-enrolment: get equipped to meet your duties
Implementation and the operation of the auto-enrolment regime could present a considerable challenge for employers.To download the white paper, click on the link above right under Related Files.White paper supplied by Scottish Widows.
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ArticleWhite paper — pensions and auto-enrolment: time for change
With major changes happening to workplace pensions from October, it is important that employers of all sizes start thinking about their own arrangements as soon as possible.To download the white paper, click on the link above right under Related Files.White paper supplied by National Employment Savings Trust (Nest).