All Pensions articles – Page 165
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Analysis
How employers can prepare for 2012 pension reforms
Updated on 10 Decemember 2012:For the most up-to-date facts, analysis and news please go to our dedicated pensions auto-enrolment section.Read Special report on auto-enrolment (written December 2012)Updated on 15 January 2012:Read updated reports on how to prepare for the 2012 pension reforms:News:Government confirms new staging dates for auto-enrolment (written January ...
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Analysis
Buyer’s guide to group personal pensions
gPPs have become the workplace pension of choice for many employers, says Tom WashingtonWith employers' continuing migration from defined benefit (DB) to defined contribution (DC) schemes, group personal pensions (GPPs) have become the workplace pension of choice for many organisations. From a new business point of view, the GPP market ...
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Analysis
What does the future hold for group personal pension schemes?
Making the switch from defined benefit (DB) and trust-based defined contribution (DC) pension schemes to contract-based schemes, including group personal pensions (GPPs), is a well-established way for employers to reduce their exposure to risk, as well as the time spent on governance and red tape.For a while earlier this year, ...
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Article
The move to a defined contribution pension plan can be costly
One certainty, though, is that predicting how costs will flex and move is extremely difficult. Aon Consulting principal in benefit solutions, Helen Dowsey, comments: “It is so scheme-specific; every single DB scheme is different. The costs of closing a DB scheme will depend on the funding, the size of membership ...
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Article
Market trends: Group Personal Pension Plans (GPPs)
Group personal pensions have faced various challenges over the years, and impending personal accounts could be the latest threat, says Sarah ColesJust as the demise in popularity of pop idol Madonna has long been predicted, the same fate has been mooted for group personal pension plans (GPPs). Many thought newcomers ...
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Article
Findus launches a new group personal pension scheme
Findus has launched a new group personal pension (GPP) scheme.A round-the-clock communication and workplace education programme was provided for all employees in order to coincide with the international frozen food business’ 24-hour shift patterns.Employees were given advice by GPP provider Alexander Forbes Financial Services, on the benefits of salary exchange ...
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Article
G4S moves to group personal pension
G4S has converted its contracted-in money purchase pension scheme (CIMP) into a group personal pension (GPP).The 2,251 active members of the CIMP at the security solutions firm were offered membership of the new GPP. Over 98% of the active CIMP members have taken up the option to transfer, with 95% ...
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Article
Pensions - definitions - Group personal pension (GPP)
A group personal pension is when an employer makes an arrangement with one pension provider or financial adviser to offer personal pensions to a group of employees. A GPP is a contract-based defined contribution scheme. Each employee has a separate contract with the pension provider or adviser, but the contributions ...
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Case Studies
Coda replaces pension scheme with salary sacrifice group personal pension plan
Coda, the business software company, replaced its three trustee-based pension schemes with a salary sacrifice group personal pension plan in April 2006 ahead of the company' s demerger with its SciSys division in September. Dave Belmont, group company secretary, said salary sacrifice allowed the company to increase the contributions it ...
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Article
Buyer's Guide: Group personal pensions
Greater fund selection and lower prices are helping group personal pension plans to make a comeback, often at stakeholder’s expense, says Jamin RobertsonArticle in fullLast November, telecommunications company Virgin Mobile announced it was closing its trust-based defined contribution scheme in favour of a group personal pension (GPP), citing onerous trustee ...
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Article
Paddy Power introduces group personal pension
Paddy Power has introduced a group personal pension (GPP) as a result of incoming pensions legislation and to help retain employees in a competitive market.The Irish bookmaking group, which has 166 employees at 32 stores in the UK, said that it had considered the implications of the Finance Act 2005 ...