All Pensions articles – Page 158
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Article
35% of respondents have not selected a pension plan for auto-enrolment
More than a third (35%) of respondents have not yet selected what type of pension scheme they will use for auto-enrolment, according to research by Xafinity, part of the Equiniti Group.The research surveyed 50 HR, payroll and pensions professionals who attended Xafinity’s conference on auto-enrolment on 22 May.The research also ...
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Article
Hymans Robertson launches auto-enrolment services for mid-sized employers
Hymans Robertson has launched a range of services to help mid-sized employers prepare for auto-enrolment.These will tackle four key stages of implementing auto-enrolment:Designing a solution for auto-enrolment.Turning the design into reality.Providing technical support.Reviewing the approach.Lee Hollingworth, head of defined contribution (DC) at Hymans Robertson, said: “The auto-enrolment journey for Britain’s ...
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Article
Half of employers have confirmed providers for auto-enrolment
More than half (54%) of the UK’s largest employers have confirmed their providers for auto-enrolment, according to research by the Nest Corporation.The research, which surveyed 707 pension decision makers at UK organisations, found that a further 34% of respondents have an idea of the provision they will implement and only ...
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Article
Auto-enrolment will offer business opportunities to advisers
Almost three-quarters (72%) of group risk advisers believe that auto-enrolment will present them with new business opportunities, according to research by Canada Life Group Insurance.The research of 100 group risk intermediaries found that 68% of respondents believe that organisations will review their benefits on offer to staff as they prepare ...
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Article
Scottish Life launches tool to improve employers' knowledge of auto-enrolment
Scottish Life, the pensions specialist arm of the Royal London Group, has launched a knowledge builder, designed to help employers improve their knowledge of auto-enrolment and their employer duties under the pension reforms.The knowledge builder, which is available as an online site or a hard-copy leaflet, is broken down into ...
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Article
JLT Investment Solutions launches growth fund
JLT Investment Solutions has launched a growth fund.The JLT Growth Fund will have an objective to outperform cash plus 4% after fees and with less volatility than equities.It can be used as a default fund for defined contribution (DC) pension schemes and will also be available via group personal pension ...
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Article
Majority of respondents do not know how their DC pension is invested
Nearly nine out of 10 (88%) UK adults invested in defined contribution (DC) pension schemes cannot name, or do not know, all of the funds their pension contributions are invested in, according to research by Standard Life.Its DC investments research, which surveyed 2,035 adults, also found that three-quarters (74%) of ...
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Article
Towers Watson launches defined contribution pension app
Track My Pension, which is available to all UK workplace pension schemes administered by Towers Watson, allows employees to view their current fund value, projected benefits, latest transactions, and the performance of their funds.The app is available on iPhones and iPads. A version for Android smartphones will be launched as ...
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Article
Majority of FTSE 100 DC schemes choose diversified growth funds
Seventy of the FTSE 100 companies now offer diversified growth funds (DGFs) as part of the fund range in their defined contribution (DC) pension schemes, according to research by Towers Watson.The research, FTSE 100 defined contribution pension scheme 2012 survey, also found that nearly all (92%) FTSE 100 pension schemes ...
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Article
Friends Life launches auto-enrolment microsite
Friends Life has launched a dedicated auto-enrolment microsite, where employers, employees and advisers can find out more about the pension reforms.The site includes news from the industry, including regulatory updates, an overview of Friends Life’s auto-enrolment product, a terminology jargon-buster, frequently asked questions, and a range of guides and checklists.A ...
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Article
Jelf Employee Benefits launches online assessment for auto-enrolment
Jelf Employee Benefits has launched an online assessment to help employers better understand how prepared they are for pensions auto-enrolment.It provides an assessment of the key areas, including financial, organisational or administrative issues that employers will need to consider in order to comply with auto-enrolment.A microsite is being launched in ...
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Article
The Pension Trust launches auto-enrolment website
The Pension Trust has launched an auto-enrolment website, which aims to guide employers through every step of the process and outline what will be required of them over the coming months.The site will host The Pensions Trust’s cost calculator, which can be used to determine the additional pension costs employers ...
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Article
Staffcare to launch auto-enrolment software
Staffcare is to launch an auto-enrolment platform.The product will manage the administration, compliance and reporting of employer's auto-enrolment requirements.It is available as a standalone product or can be used as an integrated suite of products, including total reward, flexible benefits and HR self-service.The product also:Allows users to gauge the financial ...
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Article
34% of respondents unprepared for auto-enrolment
Employers in the UK are unprepared for auto-enrolment and pensions are a “ticking time bomb” in their organisations, say HR and payroll providers.NorthgateArinso research shows 34% of businesses are totally unprepared for auto-enrolment. However, 65% are largely unconcerned by the new regulations, while nine out of 10 see it as ...
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Article
Informa gets set for pension reforms
Informa has renegotiated the annual management charge (AMC) on its group personal pension (GPP), and is introducing a pensions governance committee and financial education sessions in the run-up to auto-enrolment.The changes follow a market review the publishing and events firm conducted with its pension provider, Friends Life, to ensure it ...
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Article
EXCLUSIVE: EB Summit: Call for care on default funds
One-third (36%) of delegates at the Employee Benefits Pensions and Workplace Savings Summit 2012 have an active duty of care over the investment funds/strategy in the default fund(s) offered to staff.A similar number leave this to their adviser or provider, while 15% said a member/staff committee is responsible.In a panel ...
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Article
Kantar Worldpanel boosts pension take-up
Kantar Wordpanel has boosted the take-up of its group personal pension (GPP) plan following a communications exercise.The membership of the firm’s GPP scheme increased from 72% in 2011 to 79% in 2012, following a series of communications with provider JLT Online Benefits in February.The sessions also informed staff about auto-enrolment ...
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Analysis
Get a full view of pension annual management charges
If you read nothing else, read this…Annual management charges (AMCs) can range from approximately 0.3% to 1%.Employers setting up a new pension scheme may be able to take advantage of competitive terms being offered by providers in a ‘land grab’ ahead of the Retail Distribution Review coming into effect from ...
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Article
Mills and Reeve to consolidate pensions and switch providers ahead of pension reforms
?Mills and Reeve plans to consolidate its stakeholder and group personal pension (GPP) schemes into one GPP, has switched its pensions adviser, and will offer its 800 staff a pension modelling tool ahead of the pension reforms.The law firm is reviewing its schemes, which have take-up levels above 90%, in ...
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Article
Aspire adds 1% match to employees' pension contributions
EXCLUSIVE: Aspire has introduced a 1% match on its employees’ contributions to the group personal pension (GPP) scheme to encourage them to get used to saving in advance of auto-enrolment.The matched contribution is for employees who contribute at least £20 of their salary per month. The scheme is offered as ...