All Pensions articles – Page 171
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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 ...
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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 ...
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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 ...
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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. ...
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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 ...
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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 ...
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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 ...
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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 ...
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Article
Expedia replaces group personal pension scheme with group Sipp
Expedia is to close its group personal pension (GPP) scheme and introduce a group self-invested personal pension (Sipp), with staff able to make contributions via salary sacrifice.The change, which happens this month, will affect 900 staff in the UK, including those in two of Expedia's other businesses, TripAdvisor and Egencia.The ...
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Article
Wolfson Microelectronics adds sharesave and group personal pension salary sacrifice
Wolfson Microelectronics is launching a sharesave (save-as-you-earn) scheme and introducing a salary sacrifice arrangement for contributions to its group personal pension (GPP) for its 350 UK employees.Through sharesave, staff will be able to invest £5 to £250 a month for three years. They will then be able to take their ...
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Article
Towry winds up legacy defined contribution (DC) plan
Financial advisory group Towry is winding up the trust-based defined contribution (DC) pension plan of Edward Jones, which it acquired last November.It will offer the firm’s 250 staff the option of joining Towry’s group personal pension (GPP) plan, run by Zurich, or group self-invested personal pension (Sipp).Towry has also increased ...
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Analysis
Pensions roundtable: How to offer a defined contribution pension
In the past, defined benefit (DB) plans operated on a trust basis - a proven format offered along with independent oversight supplied by a board of trustees assisted by professional advisers.But the mass migration to defined contribution (DC) pensions has changed this and put more responsibility on the employer. This ...
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Article
FSA confirms commission ban on group personal pensions
The Financial Services Authority (FSA) has confirmed commission on all new group personal pensions (GPP) will be banned under the Retail Distribution Review from 2013.The regulator's policy document Delivering the retail distribution review - Corporate pensions: feedback to CP09/31 and final rules has stated commission will be allowed to continue ...
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Article
Mercer launches defined contribution pensions governance tool
Mercer has launched a new tool to help trustees and governance committees improve the performance of their defined contribution (DC) pension schemes.The tool will help reduce the running costs and ensure schemes meet the needs of members, while also preparing them for new guidance expected from The Pensions Regulator.The Mercer ...
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Analysis
Make sure defined contribution pension default funds are dependable
Most defined contribution scheme members choose the plan's default fund, so employers should make sure it is not a bad option, says Jenny KeefeIn an episode of The Simpsons, Homer achieves one of his dreams by becoming a Nasa astronaut. It looks like his buddy, Barney, will be the one ...
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Article
Framestore moves group personal pension into flexible benefits
Visual effects specialist Framestore has boosted take-up of its group personal pension (GPP) after moving it into its flexible benefits scheme as a salary sacrifice arrangement.Annabel Jones, human resources manager at the company, which has worked on films such as Avatar, said the GPP, provided by Scottish Widows, was the ...
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Article
Computershare moves acquired EES employees into group personal pension scheme
Computershare Investor Services has harmonised its pensions provision after acquiring HBOS Employee Equity Solutions (EES).The firm has integrated staff from the employee share plan administrator's legacy defined benefit and defined contribution (DC) schemes into its group personal pension (GPP) plan. Of EES's 397 staff, 371 have chosen to join their ...
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Article
PensionDCisions research: most DC plans to review default option
More than half (54%) of defined contribution (DC) plans intend to review or change their default strategy in the near term. This figure is up from 20% in 2009.The findings are part of the 2010 PensionDCisions UK Sponsor Default Survey, which polled 62 large UK plans, representing 630,000 DC members ...
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Article
Babcock International to consolidate defined contribution (DC) schemes
Support services company Babcock International Group is to consolidate its existing unbundled defined contribution (DC) schemes and contract-based plans for the group in the UKThe new pensions arrangement will provide a single defined contribution (DC) pension scheme for employees without access to its existing defined benefit (DB) schemes.All new staff, ...
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Article
Corona Energy relaunches group personal pension
Corona Energy, a leading commercial energy supplier of natural gas to British-based businesses, has re-launched its group personal pension plan (GPP).Corona Energy had an existing GPP in place but it was some time since a systematic review to assess the scheme had taken place.It has appointed benefits consultancy Cartlidge Morland ...