All Pensions articles – Page 165
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Case Studies
L'Oreal gives pension scheme a makeover
When beauty product company L’Oreal decided its pension scheme needed a makeover, it asked its employees what they wanted, says Padraig FloydL’Oreal is a company that divides the nation. Its TV adverts are incomprehensible to most men, yet women in their millions consume the products advertised on a daily basis.It ...
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Article
Padraig Floyd: DC pension schemes
Auto-enrolment, the most ambitious attempt to reform pensions in a century, will launch in the autumn, but we must not think we have cracked the problem of getting people to save for their retirement. We haven’t. Not by a long chalk.After all, what does auto-enrolment actually achieve? For many, it ...
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Analysis
Quality control needed for DC schemes
If you read nothing else, read this …DC schemes have been the poor relation in pensions with little time spent on them.They have been criticised for low levels of governance and poor investment structures.Investments have typically been 90% equities with little consideration for individual risk tolerance.More than 80% of DC ...
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Analysis
The Defined Contribution Debate
Over the past few years, the writing has been on the wall for final salary or defined benefit (DB) pensions. There was little doubt defined contribution (DC or money purchase) schemes would become the new world order, but growing concerns were voiced that DC had been run as a sideshow ...
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Article
T-Systems increases pension scheme take-up and launches online flexible benefits
T-Systems has increased take-up in its group personal pension (GPP) plan from 80% to 84%, and has introduced an online flexible benefits scheme.The GPP plan was promoted during the launch of the flex scheme in January. Since the launch, 81% of the telecommunications firm’s 1,000 employees have registered on the ...
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Video
Employee Benefits/The People's Pension auto-enrolment roundtable
Download a PDF of the Employee Benefits/The People’s Pension auto-enrolment roundtableRead articles:Will reforms succeed?Ensuring compliance?AdministrationCostsCommunicationSponsor’s comment: by Jamie Fiveash of B&CE brightcove.createExperiences();Auto-enrolment roundtable panel membersJamie Fiveash, director of customer solutions, B&CEIan Hodson, reward and benefits manager, University of LincolnJames Kirkland, head of ...
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Article
SSI adds flexible benefits and moves to GPP
Sahaviriya Steel Industries (SSI) UK has launched a flexible benefits scheme and switched from a stakeholder pension scheme to a group personal pension (GPP) in preparation for auto-enrolment.The steel firm launched its flex scheme, branded One Reward, when it recruited more than 1,000 new staff, increasing its workforce to 1,800. ...
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Article
More than 30% of UK SMEs not preparing for auto-enrolment
More than 30% of UK small and medium-sized enterprises (SMEs) are not preparing for auto-enrolment, according to research by RSM Tenon.Its RSM Tenon business barometer, a quarterly survey of senior management in SMEs, found that only 12% have fully forecast the costs of auto-enrolment.The research also found: 23% of respondents ...
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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 ...