All Pensions articles – Page 149
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Mercer launches new DC pension and workplace savings division
Mercer has created a new defined contribution (DC) pension and workplace savings division.The consultancy has also appointed Brian Henderson (pictured) as UK leader for the division. Henderson has been a partner at Mercer since 2008, most recently as DC leader for investments in the UK. He has also been a ...
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OECD publishes report on DC pensions
The Organisation for Economic Co-operation and Development (OECD) has published a report summarising the challenges that policymakers face around defined contribution (DC) pension schemes.The OECD Roadmap for the good design of DC pension plans, recommends key improvements that can help ensure DC pensions deliver the incomes that individuals need to ...
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Governance vacuum for contract-based schemes
There is a general lack of strong governance for default funds in contract-based pension schemes.Speaking at the annual National Association of Pension Funds Investment Conference 2013, Brian Henderson, a partner in Mercer’s investment division, said: “There is a total vacuum of governance for contract-based schemes.“Providers have commercial reasons to make ...
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PQM rolls out communication guide
The Pension Quality Mark (PQM) has launched a new guide to help organisations communicate more effectively with their employees about pensions.The free guide is the first guidance document published by PQM, which was founded by the National Association of Pension Funds in 2009, and aims to tackle the issue of ...
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DOD’s blog: pension investments might get stuck
Many years ago a good friend, who at the time worked as a financial adviser, gave me a piece of advice: “Always pay fees for advice, never opt for commission – fees are ultimately a fraction of the cost of commission.”Needless to say, he is no longer a financial adviser. ...
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DOD’s blog: can pensions people speak HR?
For the past few days I have been staying in the friendly climes of Edinburgh immersing myself in all things pensions investment, not least at the NAPF Investment Conference.While here, I have met up with all the leading pension providers based here (and Edinburgh does have more than its fair ...
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L&G changes default fund for auto-enrolment
EXCLUSIVE: Legal and General has used auto-enrolment compliance as an opportunity to review and change its stakeholder pension scheme’s default investment fund and reduce its annual management charge (AMC).The scheme’s default fund is currently the L&G UK Equity Index Fund, but this will be changed to the L&G Multi Asset ...
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Friends Life launches auto-enrolment product
Friends Life has launched an auto-enrolment product that includes an online hub, a suite of employee communications and a range of default investment options.The hub will:Enable employers to enroll jobholders into a new or existing Friends Life pension scheme, or a combination of both.Decide which employees are eligible for scheme ...
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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 ...