All Pensions articles – Page 15
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ArticleDWP publishes pensions dashboards consultation
The government has published a key document in the creation of a single portal for people to manage their retirement income.The Department for Work and Pensions (DWP) launched a consultation titled Pensions dashboards: consultation on the draft pensions dashboards regulations 2022.According to the DWP, this represents a “significant” step towards ...
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ArticleUniversity staff plan strikes over pensions and pay
More than 50,000 university employees are to take part in further strike action over pensions, pay and working conditions next month, according to a trade union.The University and College Union (UCU) said that unless an agreement could be reached in forthcoming talks, staff at 44 further education institutions would take ...
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ArticleUK DC pension schemes down 40% in a decade
The UK’s occupational defined contribution (DC) pension market has consolidated by nearly 40% in a decade, data has shown.The Pensions Regulator’s (TPR) 12th annual DC trust report revealed that there were 27,700 DC schemes in December 2021 down from 45,150 in 2011.It also showed a 2% drop in the number ...
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ArticlePension advisers want dashboard roll out prioritised
Addressing climate change and rolling out the pensions dashboard are the biggest priorities for workplace pension scheme advisers this year, research has revealed.The Society of Pension Professionals (SPP) asked its members where they wanted the government and regulators to focus attention over both the next 12 months and the next ...
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Supplier articleEarly and multiple interventions will improve pensions engagement!
The Work and Pensions Committee is calling for trials of automatic appointments with the Pension Wise service as part of its new ‘Stronger Nudge’ interventions.Jonathan Watts-Lay, Director, WEALTH at work, comments; “Employers and Trustees must intervene and engage with their employees much earlier in order to make a real difference ...
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ArticleCushon acquires Creative’s workplace pension scheme
Workplace savings fintech firm Cushon has acquired financial services business Creative’s workplace pension scheme.This is Cushon's third workplace pension acquisition in two years, in line with regulatory goals to drive further consolidation in the market. With the addition of the 14,500 additional employers under Creative’s pension trust, this makes Cushon ...
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OpinionJohn Adams: Pensions landscape will be changing in 2022
In what may bring a sigh of relief, 2022 is not a year with new legal requirements incumbent on employers regarding pensions. But there are many ongoing requirements to be mindful of, and changes within the pensions environment that could lead to future impacts.There is going to need to be ...
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Case StudiesThe Caravan and Motorhome Club plans full pensions communication schedule for 2022
The Caravan and Motorhome Club Pension Plan was established in 2009 and now has around 1200 active members. The club pays double the employee’s contributions up to a maximum of 15%. Pensions manager Sarah Reynolds has planned a series of monthly communications this year, with the help of provider Aegon ...
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AnalysisA changing pension landscape: what can employers expect in 2022?
Need to know: Pension teams are likely to be flooded with queries around the new simplified annual statements, changes to retirement ages and the Pensions Dashboard.Salary sacrifice plans will get a fillip from the new Health and Social Care Levy.Employers who are not cognisant of their employees’ attitudes to environmental, ...
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ArticleAction urged to rebalance pension wealth
Shareholder returns that feed into UK workers’ pensions “disproportionately benefit a wealthy minority”, according to a report put together by the TUC, think tank Common Wealth and the High Pay Centre.The study found that almost one in three UK shares was held by a UK pension fund in 1990 yet ...
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ArticleMaking more staff eligible for auto-enrolment will help levelling up
More people should be automatically enrolled in workplace pensions, scrapping the age and earnings thresholds that have existed since auto-enrolment began to be phased in a decade ago.That’s according to Richard Holden MP who is today tabling a private members’ bill to increase pension participation among lower paid, younger and ...
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Article25% of staff plan early retirement at age of 60
A quarter of people planning to retire early have a target to leave work on their 60th birthday, research has revealed.The survey of 2,000 people by insurance provider Aviva also found that 17% of those who had already chosen to exit the workforce ahead of receiving their state pension had ...
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ArticleAston Martin staff threaten to strike in pensions row
Workers employed by Aston Martin have threatened the car manufacturer with strike action over changes to their company pension scheme.Trade union Unite said an initial ballot over potential industrial action had been held in response to proposals to switch staff currently on the business’ defined benefit scheme to a defined ...
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AnalysisHow can employers assess value for money in a DC pension?
Need to know:Workplace pension regulators are looking at how value for money can be clarified in defined contribution (DC) pension schemes.Value for money is a difficult thing to pin down, as there are so many interactive components.Ultimately the employer is one of the greatest contributors to delivering value for money ...
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Case Studies
Infographic: Pensions value in numbers
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Case StudiesHow Suez Recycling and Recovery UK measures the value of its pension scheme
Suez Recycling and Recovery UK has a diverse membership, with a mixture of office-based and manual employees. Many of the organisation's employees are in final salary and local government schemes, but the majority, about 4,000, or 40% of the workforce, are in the organisation's defined contribution (DC) scheme.Michelle Sutton, head ...
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Article44% of staff expect to work past state pension age
Two in five (44%) UK workers now predict they will work beyond their state pension age, according to fresh data.Financial services business Canada Life’s research, which was carried out by Opinium with 2,000 UK adults, revealed that 44% expect to keep earning past the date they could claim their retirement ...
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ArticlePandemic forces 300,000 women out of workplace pensions
Some 300,000 women were unable to make any savings towards a workplace pension in the last year due to the impact of lockdowns, home schooling and increased domestic responsibilities during the pandemic, research has revealed.Workplace pension provider Now: Pensions’ new report Pandemics and pension inequality, created in collaboration with the ...
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OpinionJeremy Harris: What are the long-term consequences of the pensions pay gap?
During a House of Lords debate on 22 November 2021, following a question posed by Labour life peer Lord Sikka about the UK government's efforts to tackle entrenched gender pay inequality, the pensions gap was highlighted as an issue of major concern.The pensions gap, it was noted, contributes to societal ...
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Article51% of employees want greener pensions
Half of employees (51%) want to know that their pension scheme is invested in environmentally and socially sustainable organisations, a new study has found.The research from Cushon showed that, broken down by generation, 60% of millenials are keen to have greener pension investments.Almost half (48%) of savers mistakenly believe that ...