All Pensions articles – Page 17
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Article82% of young staff want to save for pensions before turning 22
New research has revealed that 82% of young employees aged between 18 and 22 believe that individuals in employment should start saving for their pensions and retirement before the current default age of 22.The Pensions Management Institute’s (PMI) findings also highlighted that more than six in 10 (61%) think that ...
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Article46% of UK employers prioritise positive DC pension scheme outcomes
Nearly half (46%) of UK employers with defined contribution (DC) pension schemes say that delivering positive outcomes for members in this scheme is now their top priority, according to research by global professional services firm Aon.Its Better outcomes by design 2022 DC pension scheme and financial wellbeing survey, which surveyed ...
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OpinionDale Critchley: Value for members should mean greater value for employers too
With headlines focused on a rise in the cost of living, the need to obtain value for money has never been greater. When it comes to a workplace pension it is no different. Employers need to make sure their pension scheme is valued, acts as a tool to attract and ...
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ArticleMen underrate women's retirement challenges
Six in 10 women feel older female employees are forced out of jobs by tricky workplace cultures, according to research - but fewer men see the problem.A poll of 960 UK savers by online retirement income provider PensionBee found that 61% of females viewed difficult working environments as a challenge ...
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OpinionDale Critchley: How to keep members engaged with ESG investing
Thanks to automatic enrolment the staff pension scheme is now ubiquitous and employee awareness of the need to save is high. Employees know they’ll receive at least a minimum contribution paid into their workplace scheme. Many employees might understand that the minimum is unlikely to be enough, and value the ...
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OpinionTracy McMullen: Ashurst engages all staff in pension savings
At Ashurst, we closely consider the pension and benefits we offer and focus particularly on how we engage our people in these offerings to ensure they are of maximum benefit.We all benefit from employees feeling equipped and able to perform at their best, and a critical component of this is ...
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AnalysisTop tips on how employers can reduce the gender pensions gap
Women need to be aware of the impact of career breaks and part-time working on their pensions, and how they may be able to mitigate the impact.Online ‘Mind the gap’ calculators, using video, animation and social media can help to promote relevant messages.Providing education on how pensions work and what ...
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OpinionJeremy Harris: How can employers reduce the gender pensions gap?
The fact that both personal and workplace private pensions are closely aligned to paid work means that employers play an important role in determining post-retirement financial wellbeing. So what can employers do to close the gender pensions gap?Women are more likely to work fewer paid pensionable hours than men over ...
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ArticleGirls' Day School Trust staff strike in pensions row
Teachers at all 23 schools that are part of the Girls' Day School Trust (GDST) have gone on strike in a dispute over proposed changes to their pensions.The trust wants to move to a flexible, defined contribution scheme, but the NASUWT teachers’ union argued that the changes would mean staff ...
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Article66% of workers unaware of total pension savings
Two-thirds of workers do not know how much money they have saved towards retirement, research has revealed.Of 500 people surveyed by online pension provider PensionBee, 66% said they were unaware of the total value of their pension pots.The research found that PensionBee’s working customers over the age of 40 have ...
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ArticleHigher pay rises could lead to £142k gender pensions gap
Higher pay rises for men than women could result in a gender pensions gap of £142,603, according to new findings.Research commissioned by investment solutions firm Fidelity International revealed that men typically receive £733 more than women when their salary is increased.Fidelity's modelling showed that a 25-year-old man on an average ...
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ArticleDWP publishes pensions dashboards consultation
The government has published a key document in the creation of a single portal for people to manage their retirement income.The Department for Work and Pensions (DWP) launched a consultation titled Pensions dashboards: consultation on the draft pensions dashboards regulations 2022.According to the DWP, this represents a “significant” step towards ...
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ArticleUniversity staff plan strikes over pensions and pay
More than 50,000 university employees are to take part in further strike action over pensions, pay and working conditions next month, according to a trade union.The University and College Union (UCU) said that unless an agreement could be reached in forthcoming talks, staff at 44 further education institutions would take ...
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ArticleUK DC pension schemes down 40% in a decade
The UK’s occupational defined contribution (DC) pension market has consolidated by nearly 40% in a decade, data has shown.The Pensions Regulator’s (TPR) 12th annual DC trust report revealed that there were 27,700 DC schemes in December 2021 down from 45,150 in 2011.It also showed a 2% drop in the number ...
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ArticlePension advisers want dashboard roll out prioritised
Addressing climate change and rolling out the pensions dashboard are the biggest priorities for workplace pension scheme advisers this year, research has revealed.The Society of Pension Professionals (SPP) asked its members where they wanted the government and regulators to focus attention over both the next 12 months and the next ...
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Supplier articleEarly and multiple interventions will improve pensions engagement!
The Work and Pensions Committee is calling for trials of automatic appointments with the Pension Wise service as part of its new ‘Stronger Nudge’ interventions.Jonathan Watts-Lay, Director, WEALTH at work, comments; “Employers and Trustees must intervene and engage with their employees much earlier in order to make a real difference ...
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ArticleCushon acquires Creative’s workplace pension scheme
Workplace savings fintech firm Cushon has acquired financial services business Creative’s workplace pension scheme.This is Cushon's third workplace pension acquisition in two years, in line with regulatory goals to drive further consolidation in the market. With the addition of the 14,500 additional employers under Creative’s pension trust, this makes Cushon ...
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OpinionJohn Adams: Pensions landscape will be changing in 2022
In what may bring a sigh of relief, 2022 is not a year with new legal requirements incumbent on employers regarding pensions. But there are many ongoing requirements to be mindful of, and changes within the pensions environment that could lead to future impacts.There is going to need to be ...
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Case StudiesThe Caravan and Motorhome Club plans full pensions communication schedule for 2022
The Caravan and Motorhome Club Pension Plan was established in 2009 and now has around 1200 active members. The club pays double the employee’s contributions up to a maximum of 15%. Pensions manager Sarah Reynolds has planned a series of monthly communications this year, with the help of provider Aegon ...
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AnalysisA changing pension landscape: what can employers expect in 2022?
Need to know: Pension teams are likely to be flooded with queries around the new simplified annual statements, changes to retirement ages and the Pensions Dashboard.Salary sacrifice plans will get a fillip from the new Health and Social Care Levy.Employers who are not cognisant of their employees’ attitudes to environmental, ...