All Pensions articles – Page 162
-
Article
DHL to overhaul default fund for DC pension scheme
EXCLUSIVE: ?DHL is overhauling the default fund for members of its trust-based defined contribution (DC) pension schemes as part of efforts to reduce risk and achieve better returns for medium earners.But its changes to the default fund, which would limit its exposure to equities, have stalled because of the latest ...
-
Analysis
Pension reforms: Counting the costs of implementation
If you read nothing else, read this … Complying with the 2008 Pensions Act could increase employers’ pension costs significantly, particularly if a large part of their workforce is not currently enrolled in a workplace pension. Employers must consider two basic costs: how much contributions will cost, and the price ...
-
Analysis
Starting a defined contribution pension from scratch
If you read nothing else, read this… A defined contribution pension scheme is no longer a hands-off option, with The Pensions Regulator turning its spotlight on these plans. Good governance is a relatively cost-effective way of differentiating an employer’s pension scheme. Employers should give careful thought to default funds, and ...
-
Article
D Young boosts healthcare benefits with savings from pensions salary sacrifice
D Young has increased its healthcare provision with savings made from offering a pensions salary sacrifice arrangement.Its new health cash plan includes access to opticians and prescriptions for employees, and health screening and employee assistance programmes (EAPs) for family members.The firm already offers private medical insurance (PMI), health screening and ...
-
Article
Nest Corporation will offer Nest to its employees
Nest Corporation will be one of the employers offering the national employment savings trust (Nest) to its employees, alongside a group personal pension (GPP) plan provided by Aviva.Nest Corporation is among a range of employers of different sizes and sectors using Nest ahead of the introduction of the 2012 pension ...
-
Article
Defined Contribution Investment Forum launched
Asset management firms have come together to create a forum as part of its efforts to ensure the investments of defined contribution (DC) pension scheme members meet their retirement objectives. The Defined Contribution Investment Forum (DCIF), which was launched at the National Association of Pension Funds’ (NAPF) annual conference in ...
-
Article
Emap completes buyout of defined contribution pension scheme
Emap has completed the buyout of its defined contribution (DC) pension scheme, which had 6,000 employee members.The scheme had assets before the transaction of around £140 million. The buyout was completed with assistance from Mercer and Capita Hartshead.As part of the buyout agreement, and depending on their membership status and ...
-
Article
Buyer's guide to group personal pensions
Focus on factsWhat is a GPP?A group personal pension is a contract-based pension scheme that is arranged by the employer, but each member holds a personal pension contract directly with the provider.What are the origins of GPPs?GPPs came in on the back of individual personal pensions, which were introduced in ...
-
Article
Aspire introduces GPP to prepare for auto-enrolment
EXCLUSIVE: Charity Aspire has rolled out a group personal pension (GPP) scheme in preparation for the 2012 pension reforms, and has launched an online flexible benefits scheme.The charity’s staging date, to comply with the reforms, is 2014, because it has 59 employees.Tasha Webster, director of operations at Aspire, said: “I ...
-
Article
Payzone UK increases GPP take-up after communications exercise
Payzone UK has increased the take-up of its group personal pension scheme from 39% to 55% following an extensive communications exercise.Working in conjunction with Secondsight, the firm gave its 140 UK-based employees the opportunity to attend presentations and one-to-one meetings on its pension scheme, which is provided by Aegon.Employees were ...
-
Article
Sapient adds pension fund choices
Technology firm Sapient has halved its pensions annual management charge (AMC) by switching providers for its group personal pension (GPP).The firm has also introduced a self-invested personal pension (Sipp) and 12 core fund ranges.Sapient switched from Friends Life to Scottish Widows to reduce its AMC from 0.8% to 0.4%. In ...
-
Article
Hitachi Data Systems switches to GPP and launches flexible benefits
Hitachi Data Systems has switched from a trust-based defined contribution (DC) pension plan to a group personal pension (GPP) and launched a flexible benefits scheme.The IT firm also plans to launch total reward statements in January 2012, rolling them out in the UK, the US and one Asia-Pacific country.Carol Baylis, ...
-
Article
Employee Benefits Live: ICE Group closes DB pension scheme and saves money with new GPP
Since the Institute for Civil Engineers (ICE Group) closed its defined benefit (DB) pension scheme to future accrual and launched a group personal pension (GPP) scheme in 2010 it has saved £240,000 and reinvested in new benefits.Speaking at Employee Benefits Live, Ethan Kelly-Wilson, project director, human resources, ICE Group, said ...
-
Analysis
Crucial choices ahead of pension reforms
If you read nothing else, read this … Employers will have to decide whether they offer new pension scheme joiners the existing level of contributions or the minimum required by the 2012 pension reforms. The reforms have increased the interest in cash balance schemes. Nest is likely to be most ...
-
Article
Babel Media increases pension scheme take-up
Games and interactive entertainment firm Babel Media has increased pension scheme take-up and reduced annual management charges after introducing a new group personal pension (GPP) scheme for staff.Working in conjunction with Creative Benefits the firm introduced the scheme after closing two pre-existing GPP plans to future accrual. In doing so, ...
-
Article
University of Reading auto-enrols staff into new defined contribution pension scheme
Following the closure of its final salary pension scheme to new entrants, the University of Reading will auto-enrol all employees over age 22 into a new defined contribution (DC) pension scheme.BlackRock has been appointed to the DC scheme to provide a full proposition of investment funds, administration and member communications.Around ...
-
Article
Employee Benefits/Worplace Savings Research 2011: Investment
Employers are grasping the importance of adequate default funds and ensuring employees understand their investment choices, says Debbie Lovewell†More than three-quarters of respondents that offer a defined contribution (DC) pension scheme include at least one default investment fund for staff who do not choose to make active investment decisions. Some ...
-
Article
Heineken UK introduces new defined contribution pension scheme
Heineken has introduced a new defined contribution (DC) pension scheme as part of changes to its pension provision for existing and new employees.As part of the changes, the beer and cider firm has also closed its defined benefit (DB) scheme to new employees and stopped future accrual for existing employees.The ...
-
Article
Oracle completes roll out of group personal pension plan
Oracle has completed the roll out of its group personal pension (GPP) plan after launching the benefit to the remainder of its UK-based staff.The last group of employees to be to be introduced to the GPP, which replaced 31 pension schemes when it was introduced last year, used to work ...
-
Article
Nelsons increases take-up of group personal pension plan and introduces salary sacrifice
Nelsons has increased the take-up of its group personal pension (GPP) scheme and introduced a salary sacrifice arrangement after an extensive communications campaign.The natural medicines provider, which re-launched its GPP between February and March, now has 67% of its employees saving into a pension, compared to 49% previously. Almost three ...