All Pensions articles – Page 19
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ArticleFire Brigades Union issues formal letter in pension scheme row
The Fire Brigades Union has issued a formal letter before claim for judicial review proceedings against the UK government due to a dispute over firefighters having to pay a discrimination cost as part of their pension scheme.On 1 April 2012, the courts found that the government’s public sector pension reforms ...
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Case StudiesAscential increases pensions awareness with regular education campaigns
Ascential is a fast-growing global organisation which delivers specialist information, analytics and ecommerce optimisation for consumer brands. It has 2,500-plus employees worldwide, of which just under 1,000 are in the UK.More than 85% of current UK employees have taken up its workplace pension with Aviva. Ascential pays from 5% up ...
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AnalysisTop tips for implementing a pensions education exercise
Need to know:Employers need to set goals and measure outcomes of all financial education exercises.They can segment employees and use all available communication channels.Employers should rely on what resonates with their employees rather simply spend big bucks.Pensions can be a bit dry and grey and retirement, particularly to the ...
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OpinionJohn Hebblethwaite: Employees need more pensions education
There has been a seismic shift in the pensions landscape since the launch of automatic enrolment and there are now 15 times as many retirement savers who are members of defined contribution (DC) pension schemes compared with the historically more typical sort of defined benefit (DB) schemes.The Financial Conduct Authority ...
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ArticleJohn Townsend Trust secures £30 million buy-in
John Townsend Trust, a former charity that provided education and care to deaf children and young people, has agreed to a £30 million full scheme buy-in transaction for its pension and assurance scheme.Legal and General Assurance Society, which is part of financial services organisation Legal and General, will be covering ...
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Article34% of firms contribute under 4% to staff pensions
More than a third of UK employers are only contributing the minimum amount towards staff pensions, while some are not contributing at all, according to new findings.The British pension report by Investing Reviews discovered that while 11.7% of organisations contribute 20% or more towards their employees' pensions, 34% put in ...
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ArticleReport calls for more pensions reassurance
Reward and pensions professionals need to put employee communication and reassurance front and centre if they want to maintain engagement when they carry out a pension scheme change consultation, according to a new report.The document, titled Pension change consultation: turning a legal requirement into an engagement opportunity from insurance broker ...
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ArticlePurplebricks faces legal action over pay and pensions
More than 100 workers have announced that they will take legal action against online estate agent organisation Purplebricks as they believe they are entitled to holiday pay and pension contributions.According to Contractors for Justice, which is bringing the claim, more of the 2,500 property agents currently working for Purplebricks might ...
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Article46% of staff aged 35-54 are unaware of their retirement income
New data has revealed that almost half (46%) of employees aged 35-54 do not know how much income their pension will provide them with in retirement.Research by Invesco, Invesco Consulting, Maslansky and partners and Nest Insight looked at how simple changes to the use of language could help workers in ...
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Case StudiesDWF offers staff salary sacrifice pension scheme
DWF is a global provider of integrated legal and business services. It employs approximately 4,000 members of staff and has more than 30 offices across the globe.The firm introduced a salary sacrifice pension scheme in 2013 in line with the UK's auto-enrolment legislation, which enables staff and the business to ...
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OpinionMark Ormston: Key considerations to introducing a salary sacrifice pension scheme
When introducing a salary sacrifice pension scheme, early engagement with payroll is key, as it is vital to involve them as soon as possible in the discussions. An employer may discover the systems or software currently being used have certain limitations or missing functionality to meet desired requirements.Employers should consider ...
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AnalysisTop tips for introducing salary sacrifice pension schemes
A salary sacrifice pension arrangement should not be agreed if the effect of this, such as a reduction in the employee’s pay, would lead to a breach of the national minimum wage legislation. A simple step, such as giving employees full transparency on which businesses the ...
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Article45% of female staff have financial anxiety
Almost half of female employees (45%) feel more financial anxiety than they did before the Covid-19 (Coronavirus) pandemic compared to 38% of men, according to new findings.Close Brothers’ report, Expecting the unexpected: a spotlight on preparing for a crisis, included responses from 2,000 UK-based employees working for businesses with 200 ...
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ArticleUber drivers to strike over pay row
The App Drivers and Couriers Union (ADCU) has announced that Uber drivers will stage a 24-hour strike on 28 September (next Tuesday) due to a pay dispute.Industrial action will take place at Uber’s offices in London, Bristol, Birmingham, Nottingham, Sheffield, Manchester, Leeds and Glasgow and will run from midnight to ...
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ArticleUber launches driver pension scheme
Uber drivers are to receive millions of pounds of pension payments dating back to 2017 as part of an agreement made with the UK pensions regulator. The deal follows a Supreme Court ruling in February this year which found the ride hailing group’s private hire drivers should ...
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Article43% of staff facing retirement have health concerns
New research has revealed that more than two-fifths (43%) of employees aged 50-plus are concerned about their deteriorating health as they approach retirement.The study of 1,320 UK workers aged 50 and above, carried out by Vital Research on behalf of financial wellbeing and retirement specialist Wealth at Work, found that ...
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ArticleSelecta UK completes £250 million buy-in
Vending machine business Selecta UK has completed a £250 million full scheme buy-in for its pension plan members.According to the business, the move “significantly” reduces future pension funding risk from its point of view, as it provides all stakeholders with more business certainty and also aligns with actions taken to ...
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ArticleThe top 10 most-read articles between 17 September - 23 September 2021
The top 10 most-read stories on employeebenefits.co.uk between 17 September – 23 September 2021 were: Metro Bank enhances staff benefits offering during the pandemicToyota staff grow their own lunchBelmont Packaging switches to four-day working weekWeetabix engineers strike over payEXCLUSIVE: 51% of SMEs lag behind on diversityAAT publishes first ethnicity pay ...
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ArticlePension auto-enrolment opt-out rates at 10%
New data has revealed that pension auto-enrolment opt-out rates remained low, at 10%, in the 12 months ended 31 March 2021.Nest Insight has published Retirement saving in the UK 2021, an annual study of retirement saving behaviours in the UK, which included around a third of the working population and ...
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Case StudiesThe benefits on offer at Sovereign Housing Association
The benefits offered by Sovereign Housing Association:Pension and group riskA defined contribution (DC) salary sacrifice pension scheme for all employees, with employer-matched contributions up to a total of 12% (employee/employer).Life assurance for all employees at four times salary.Healthcare and wellbeingPrivate medical insurance (PMI) scheme, employer paid for all employees with ...