All Pensions articles – Page 152
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Article
Scottish Life launches six new investment funds
Scottish Life has launched six new funds within its core investment fund range.The pension provider, which is part of the Royal London Group, now offers 164 funds from 29 fund managers.The new funds include four external funds, three of which are rated by independent investment research consultancy Morningstar OBSR, and ...
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Article
Heineken focuses on purchasing power of pension funds
Heineken regularly reviews its default and lifestyle funds alongside annuity prices and inflation to give a better picture on the purchasing power of the funds.Speaking at Employee Benefits Pensions and Workplace Savings Summit 2013, Carol Young, pensions manager at Heineken, said: “One of the things that we felt very strongly ...
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Article
Consultants under pressure to prove their worth
Pensions consultants face increasing pressure to justify their worth in the new-look pensions world in which providers are offering integrated schemes with in-built governance and employee communication services alongside asset management.Speaking at the Employee Benefits Pensions and Workplace Savings Summit on 31 January, Debbie Harrison, senior visiting fellow at The ...
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Article
Collective-based pensions identified as future for UK
The future success of the UK pensions market requires a move to collective-based pensions, according to David Pitt-Watson, lead for the Tomorrow’s Investor programme at the Royal Society of Arts (RSA) and author of Building the consensus for a people’s pension in Britain.Speaking at the Employee Benefits Pensions and Workplace ...
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Article
Fund price impacts pension provider choice
EXCLUSIVE: The price of funds is the most important considerations for employers when selecting a pension provider for a contract-based pension scheme, according to exclusive research conducted for Employee Benefits by Booz & Co.The Employee Benefits/Booz & Co Default funds survey, which polled 225 employers, found that 84% of respondents ...
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Article
PQM to set tougher standard on pension charges
The National Association of Pension Fund’s Pension Quality Mark (PQM) is lowering its cap on charges from 1% to 0.75% of pot size per year, which employers must meet before they can qualify for the nemchmark.The change, which will come into effect from 1 April 2013, means that pension schemes ...
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Article
Public sector pensions could cost billions
Pensions for public sector workers could cost taxpayers up to £41 billion a year, according to research by the Centre for Policy Studies.Its report, A toxic tangle, found that this figure would be comprised of at least £17 billion in employer contributions and at least £15 billion to cover cashflow ...
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Article
Barclays C&ES launches pensions platform
Barclays Corporate and Employer Solutions (C&ES) division has launched a pensions platform in partnership with Aegon and Zurich.This will provide employers with access to Barclays Wealth and Investment Management’s investment funds, which are suitable for use by employees as default investment options.The offering is being overseen by Katharine Photiou, who ...
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Article
Guide Dogs closes DB plan and prepares for auto-enrolment
EXCLUSIVE: Guide Dogs has closed its final salary pension scheme to future accrual.The charity held a 90-day consultation with its defined benefit (DB) pension scheme members about the closure of the scheme between September and November 2012. The scheme was closed to future accrual on 31 December 2012.Justin Keppler, pension ...
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Article
Over a third of delegates review default fund annually
Reviews of default fund are being carried out annually by 39% of delegates at the Employee Benefits Pensions and Workplace Savings 2013.The poll on default funds taken on the second day of the summit, 1 February, found that 11% of delegates review their pension scheme default fund several times a ...
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Video
Jamie Jenkins: What HR needs to consider about default funds
Jamie Jenkins, head of workplace strategy at Standard Life, speaks to Debi O’Donovan, editor of Employee Benefits, about the importance of employers engaging in the type of funds their pension scheme members are invested in.Auto-enrolment rules mean that millions of employees will be coming into pension schemes for the very ...
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Article
DWP in consultancy charge review
The Department for Work and Pensions (DWP) is in the midst of a review of consultancy charges, which it deems a legitimate risk to employees’ pensions pots.Speaking at the Employee Benefits Pensions and Workplace Savings Summit on 31 January, Bridget Micklem, head of private pensions, policy and analysis at the ...
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Article
Three key drivers for auto-enrolment success
Creating the best environment to make auto-enrolment a success will depend on three key factors, according to Bridget Micklem, head of private pensions policy and analysis at the Department for Work and Pensions (DWP).Firstly, awareness of the importance of auto-enrolment must be maintained in order to maximise engagement with the ...
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Article
Pension deficits rise to £550 billion
Pension deficits rose by more than a third to £550 billion in 2012, according to research by Xafinity Corporate Solutions.The research, which is based on all UK defined benefit (DB) pension schemes using FRS17 and IAS19 accounting rules, found that, despite some brief optimism in September 2012, annual deficits ended ...
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Article
Auto-enrolment will improve engagement
More than half (63%) of respondents agree with the idea of auto-enrolment, according to research by the national employment savings trust (Nest).Its Nest insight report, which draws on five years’ worth of research and evidence from a number of sources, including its own research, found that 67% of respondents agree ...
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Article
DB pension schemes close at record rate
Defined benefit (DB) pension schemes in the private sector are closing to new members at the fastest rate on record, according to research by the National Association of Pension Funds (NAPF).The NAPF Annual survey, which was conducted among 1,018 pension schemes with a total of nine million members, found that ...
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Opinion
Jamie Fiveash: Use simple language for auto-enrolment
As providers, we can, and should, help by giving employers a variety of methods to communicate with staff.For example, we provide an employer toolkit that includes bespoke posters and a short animation explaining the basics about auto-enrolment, using simple, engaging everyday language. Some of our customers have a significant proportion ...
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Opinion
Mark Baker: Steps to make auto-enrolment easier
First, decide early on a pension provider. Do not delay this decision because there are fears of a capacity crunch among providers in 2013 and 2014. If employers leave it too long, they will find it harder to negotiate contract terms and management fees, because providers will know they have ...
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AnalysisAuto-enrolment: experiences so far
IF YOU READ NOTHING ELSE, READ THIS…The auto-enrolment process has brought new responsibilities for employers, for example, regarding the opt-out process.Employers have found auto-enrolment a useful catalyst for re-issuing communication to employees about their pension scheme.Employers that have begun to auto-enrol staff recommend that others allow plenty of time to ...
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Analysis
Pension schemes' impact on a business
IF YOU READ NOTHING ELSE, READ THIS…Most employers with DB schemes expect a negative impact on the business’s financial performanceM&A activity and the ability to raise finance are being stifled by DB deficits.Auto-enrolment is expected to add to employers’ cost burden.An employer’s pension scheme, particularly if it offers defined benefits ...