All Pensions articles – Page 163
-
Article
Specsavers appoints new pensions consultancy
Specsavers has appointed Capita Hartshead to provide pensions consultancy services to help increase engagement among employees.The optical retailer is keen to promote the benefits of its group personal pension (GPP) plan across its 18,000 employees, and target strategic communications to meet individual needs.Capita Hartshead will also provide a full scheme ...
-
Article
Prudential UK appoints pension scheme administrator
Prudential UK has appointed Xafinity Paymaster for the administration services of its money purchase pension (MPP) and group personal pension (GPP) schemes.Linda Conner, customer services manager at Prudential, said: “Xafinity Paymaster has provided pensions administration services to Prudential for many years.“Our decision to extend the activity undertaken by Xafinity Paymaster, ...
-
Article
Amey rejigs pension plans to prepare for 2012 reforms
?Amey has closed its trust-based defined contribution (DC) pension scheme to future accrual, moved members to its group personal pension (GPP) and introduced automatic participation in a pensions salary sacrifice arrangement to prepare for the 2012 pension reforms.After a consultation exercise, the private sector outsourcing contractor closed its trust-based DC ...
-
Article
Oracle boosts take-up of group personal pension plan
?Oracle has boosted take-up of its group personal pension (GPP) plan after a communications campaign.The IT firm, which brought in the GPP last year to replace a trust-based defined contribution (DC) scheme after consolidating several legacy pension schemes from acquired organisations, has seen membership of the GPP rise from 77% ...
-
Case Studies
Case study: Arup engineers matching pension contributions
When engineering firm Arup set up a new group personal pension (GPP) plan last June, it decided to offer a matched contribution to staff.The matches on offer range from a minimum 2% employee contribution which attracts 4% from the employer, up to a maximum 6% employee contribution which attracts a ...
-
Article
Acxiom boosts group personal pension take-up after revamping structure
?Marketing services firm Acxiom has restructured its group personal pension (GPP) plan to simplify the arrangement and increase its appeal for its 1,200 UK-based staff.The company made the changes after closing its trust-based defined contribution scheme to new joiners and introducing the GPP two years ago. After the change, it ...
-
Article
Travelport migrates staff to single pension
?Travelport is migrating its 2,000 UK employees from two existing pension schemes into a single plan and has launched an online benefits portal called My Benefits.The pension changes are intended to simplify provision, reduce annual management charges, and prepare for a smooth transition into auto-enrolment by 2012. Its previous two ...
-
Article
Wolfson Microelectronics closes defined benefit pension scheme
?Wolfson Microelectronics is to close its final salary pension scheme to future accrual after a 60-day consultation with the 28 affected staff and has switched providers for its group personal pension (GPP) plan.The semiconductors supplier closed its scheme to new joiners in July 2002. Four of the remaining members were ...
-
Article
Aon Hewitt research: Most employers offer over 20 DC pension investment options
The majority (63%) of employers offer over 20 investment options to defined contribution (DC) scheme members while only 12% offer no default investment option.The Aon Hewitt Employee Benefits and Trends Report, which surveyed 485 employers on various issues relating to employee benefits and pensions, warns that this array of investment ...
-
Article
Employee Benefits Pensions Summit 2011: Nest does not aim to compete with existing workplace pension schemes
The national employment savings trust (Nest) is not intended to replace existing pension schemes such group personal pensions (GPPs), stakeholder schemes and group self-invested personal pensions (Sipps).Speaking at the first day of the Employee Benefits Pensions Summit 2011, Paul Gilbody, director of market engagement at the Nest Corporation, said that ...
-
Article
Damovo launches group personal pension scheme
Communication technology firm Damovo has launched a group personal pension (GPP) plan. The scheme, which will be provided by Goddard Perry Consulting, will have 220 members.Goddard Perry Consulting will also provide workplace advice and face-to-face communication relating to the pension for the firm’s employees.Steve Goddard, managing director of Goddard Perry ...
-
Article
KPMG launches defined contribution pensions practice
KPMG has launched a dedicated defined contribution (DC) practice.KPMG DC Solutions will advise organisations on all aspects of DC pensions provision including assistance in the design of the schemes, choosing platform providers, advising on employee communications, and delivering DC governance and investment services.KPMG’s pensions partner, Gurmukh Hayre, will lead the ...
-
Article
Nest appoints fund managers for default fund offering
The National Employment Savings Trust (Nest) Corporation has announced the fund managers appointed for its first five mandates.The funds will provide Nest’s default fund offering.Mandate one: passive global equities. UBS Life World Equity Tracker, managed by UBS Global Asset Management Life Ltd, tracks the FTSE all-world developed index.Mandate two: passive ...
-
Article
AboveNet rejigs group personal pension
?Fibre optic network provider AboveNet has switched providers for its group personal pension (GPP), set up a pensions advisory committee and removed the three-month service requirement before staff can join the scheme.Employees can now join the GPP on their first day at work as the firm’s first step towards complying ...
-
Article
Cath Kidston introduces group personal pension scheme
Cath Kidston is to introduce a group personal pension (GPP) scheme and group life benefit.The household and clothing boutique will also introduce a salary sacrifice arrangement on contributions to the GPP, which will be launched in March through Aviva.The firm will also change its pension provider as part of efforts ...
-
Analysis
Switching from defined benefit to defined contribution pension can be a positive step
If you read nothing else, read this…Changes in life expectancy, the economic downturn and mobility in the labour market have contributed to the shift from defined benefit (DB) to defined contribution (DC) schemes.Many staff perceive DB plans to be of greater value than DC, but this is not necessarily so. ...
-
Analysis
Is an active or passive default fund best for DC pension schemes?
If you read nothing else, read this...Passively managed default funds are set up to track various indices, for example the FTSE 100. The fund is managed by a computer program linked directly to the stock market that is being tracked.Actively managed funds, using human intervention, aim to outperform indices.Passive funds ...
-
Article
Buyer's guide to Group personal pensions
Group personal pension schemes have had a difficult couple of years, and employers and providers are now gearing up to meet the challenges of legislative changes, says Nicola SullivanThe group personal pension (GPP) market has been boosted by employers continuing to migrate from final salary pension schemes to defined contribution ...
-
Article
BSkyB broadens investments for DC pension default fund
BSkyB has redesigned the default fund for its trust-based defined contribution (DC) pension after an extensive review of the scheme concluded the existing fund was based too heavily in equities.The broadcaster has replaced its default lifestyle fund, used by more than 90% of employees, with one that is based on ...
-
Article
Social Housing Pension Scheme to launch defined contribution arrangement
A defined contribution (DC) scheme will be introduced to all members of the Social Housing Pension Scheme on 1 October 2010.Administered by The Pensions Trust, the scheme serves more than 60,000 members and 700 different housing groups within the National Federation of Housing Associations and Housing Corporation.To date, 208 employers ...