All Pensions articles – Page 150
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Article
Local government pensions need better investment governance
The future of local government pension schemes (LGPS) in London is potentially blighted by weak oversight of investment governance, according to research by the Pensions Institute.Its report, An evaluation of investment governance in London local government pension schemes, identifies fundamental flaws in the investment governance of the majority of London’s ...
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Article
Lyreco prepares for pensions auto-enrolment
Lyreco has brought forward its auto-enrolment staging date, switched pension providers, and set up administration software between its payroll and pension provider.The workplace products distributor will use Cerdian’s auto-enrolment administration software, which automatically identifies and enrols employees into the chosen pension scheme.The software aligns the exchange of payroll information from ...
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Article
Johnson Fleming expands auto-enrolment offering
Johnson Fleming has partnered with the national employment savings trust (Nest), Now: Pensions and The People’s Pension to offer a two-tier auto-enrolment option for employers.The agreement enables employers that require a two-tier option to use a single administration and communications platform, rather than running more than one platform.Simon Fletcher, client ...
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Analysis
Ferdinand Lovett: Typical legal queries from HR
Ferdinand Lovett, solicitor at Sacker and Partners, and legal expert at Employee Benefits Live 2012, tells Debi O’Donovan, editor of Employee Benefits, the common questions he and his law firm are being asked by HR and benefits managers with regards to pensions auto-enrolment.Lovett flags up the common legal areas that ...
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Article
Consultation on lifting Nest restrictions
The government has published a call for evidence on the impact of two statutory restrictions on the National employment savings trust (Nest).It is seeking views and evidence on whether the annual contribution limit and transfer restrictions on Nest are influencing employers’ choice of auto-enrolment pension scheme in a way that ...
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Article
Booker Tate completes pensions buyout
Booker Tate has completed a pension insurance buyout for its defined benefit (DB) pension scheme.The transaction, carried out in conjunction with Pension Insurance Corporation (PIC), covers £20 million of pension liabilities.The organisation, which provides development, management and technical services to the sugar, ethanol and bio-energy market, was advised by Barnett ...
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Article
DB pension deficits hamper investment
High levels of defined benefit (DB) pension scheme deficits are hampering organisations in investing in their businesses, according to research by the Institute of Chartered Accountants in England and Wales (ICAEW) and Mercer.The Living with defined benefit pension risk report, which surveyed finance directors and other senior leaders on DB ...
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Article
BT's pension deficit increases to £3.1bn
BT Group’s final salary pension scheme deficit has increased from £1.9 billion to £3.1 billion since March 2012.The telecommunications firm published the figure in its financial results for the second quarter and half year to 30 September 2012.The higher deficit reflects the impact on liabilities of a reduction in the ...
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Article
JLT to take over Aegon’s DB pension portfolio
JLT Benefit Solutions will take over the ongoing provision of services to Aegon’s portfolio of defined benefit (DB) pension schemes.The portfolios have an asset value of £710 million and contain 25,000 members.The partnership will see 100 Aegon staff transfer to JLT in early 2013.Duncan Howorth, chief executive at JLT Benefit ...
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Article
Prudential partners Nest and Now: Pensions
Prudential UK has partnered with the National employment savings trust (Nest) and Now: Pensions to offer pension auto-enrolment options to employers.The financial services provider is working with Nest and Now Pensions to provide organisations with diverse workforces the option of a dual-scheme approach to complying with auto-enrolment.David Caw, head of ...
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Article
A third of respondents are not saving
More than one-third (35%) of respondents do not contribute to any kind of savings vehicle, according to research by Now: Pensions.The research, which was carried out through an online survey of 2,033 UK adults, found that one in four (27%) respondents said they will face a shortfall in their pensions ...
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ArticleLow-paid workers have poorer pensions provision
Low-paid workers are less likely to belong to a workplace pension scheme, and those that do have lower employer contribution rates, according to research by the Trades Union Congress (TUC).The TUC Pensions scorecard report, which examined the membership, contribution rates and governance of workplace pensions across the UK, found that ...
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Article
Projected worth of pensions to fall sharply
Employees who are members of personal pension plans will see the projected worth of their pension pots fall sharply from 2014.The Financial Services Authority (FSA) is to reduce the projected annual growth rates from April 2014, which will affect plans such as self-invested personal pensions (Sipps) and stakeholder pension schemes. ...
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Article
PQM awarded to three more employers
Three more employers have been awarded the Pension Quality Mark (PQM), which recognises good quality defined contribution (DC) pension schemes.Global biopharmaceutical firm Bristol-Myers Squibb was recognised with the PQM for its group personal pension (GPP) plan. Controls and process automation firm Koso Kent Introl and national charity Motability were awarded ...
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Article
JLT Growth Fund available for use in GPPs
JLT has made its growth fund available to members of group personal pension (GPP) plans.Aegon is the first pension provider to offer this option for employers to include in their GPP investment selection.The JLT Growth Fund was launched in May 2012 for individuals wanting a diversified growth fund.Paul Armitage, head ...
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Article
The Pensions Trust appoints investment provider
The Pensions Trust has appointed AllianceBernstein as the investment provider for its auto-enrolment product, SmarterPensions.Its auto-enrolment-compliant defined contribution (DC) scheme will be launched in March 2013 and is intended to provide a platform for the pension provider’s qualifying workplace pension schemes.The scheme will use AllianceBernstein’s target date funds as its ...
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Article
Government plans defined ambition pension
The government has set out proposals to rebuild confidence and trust in workplace pensions.Its paper, Reinvigorating workplace pensions, contains new ideas for sharing the risks more equally between employer and employee, and for helping UK workers get the most out of what they save in a pension.The report includes more ...
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Article
Paradigm offers GPP alongside corporate wrap
Paradigm Group is to offer an off-platform group personal pension (GPP) plan alongside its corporate wrap platform.The GPP, which is provided by Aegon, is intended to give employers an alternative if the platform approach is not appropriate for them.Anthony Morrow, partner at the Paradigm Group, said: “We are pleased to ...
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Article
AIB asks former directors to reduce pensions
Allied Irish Banks (AIB) has written to its former senior executives to request they voluntarily reduce their pensions as part of its plans to lower its defined benefit (DB) pension scheme deficit.The bank first announced its plans in the AIB 2012 Half yearly financial report, which was published on 31 ...
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Article
Aegon launches range of lifestyle funds
Aegon has launched a range of core lifestyle funds, which aim to provide more certainty about the size of annuity investors can buy as they near retirement.The seven Core Risk Profile Lifestyle Portfolios, which have been designed in conjunction with Morningstar OBSR, each have a different risk profile. The funds ...