All Pensions articles – Page 20
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Article62% would stay in savings scheme if enrolled
More than six in 10 employees would stay in a savings scheme if their employer automatically put them in one, according to new data.The research, which was undertaken by workplace pension and savings provider Cushon, found that this number increased to 69% if the employer contributed too. While 22% are ...
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Case StudiesPodcast: Global Marine Group adapts reward strategy to support staff wellbeing during pandemic
?tynanbarton · Global Marine Group/Employee Benefits podcastListen: Paul Rose, director of HR and talent at Global Marine Group, talks to Employee Benefits about how the organisation adapted its reward strategy to place a high focus on employee wellbeing, especially during the Covid-19 (Coronavirus) pandemic.Rose explains that the offshore engineering orgnisation ...
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Case StudiesThe benefits on offer at Global Marine Group
The benefits offered to UK employees at Global Marine Group:PensionA group personal pension (GPP) for all employees with matched contributions at 7.5%.Closed defined benefit (DB) scheme.Healthcare and group riskPrivate medical insurance (PMI) scheme with Axa PPP, employer-funded for all employees.Health cash plan for all employees with Medicash, employee paid.Employee assistance ...
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ArticlePoll: 78% of organisations use salary sacrifice for workplace pensions
Employee Benefits poll: More than three-quarters of organisations use salary sacrifice for workplace pensions, according to the latest Employee Benefits research.Salary sacrifice schemes allow employees to agree to reduce their earnings by an amount equal to their pension contributions and, in exchange, the employer then agrees to pay the total ...
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ArticleKingfisher completes £900 million bulk annuity deal
Kingfisher, a retailing company that manages B&Q and Screwfix, has completed a £900 million bulk purchase annuity transaction for its pension scheme.Aviva will insure the defined benefit pension liabilities for more than 8,000 members, taking responsibility for the investment and longevity risk. Members will see no change in the amount ...
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Supplier article94% of Trustees fear retiring members will be targeted by scammers
WEALTH at work’s latest survey* with the Pensions Management Institute (PMI) has revealed that 94% of Trustees fear their members approaching retirement will be targeted by scammers.Jonathan Watts-Lay, Director, WEALTH at work, comments; “Pension scams are a persistent problem which has a devastating impact on those who become victims. Our ...
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ArticleJust Ask Estates Services cleaners to strike over pay
Just Ask Estates Services contract cleaners at London’s royal parks have announced they will be taking part in strike action on 30 July over pay and pension conditions.According to civil service union PCS that represents the staff, 32 members were balloted, resulting in a 100% yes vote on an 81% ...
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ArticleThe top 10 most-read articles between 9 July - 15 July 2021
The top 10 most-read stories on employeebenefits.co.uk between 9 July – 15 July 2021 were: Linklaters rolls out staff wellbeing appPlant some wellbeing in the officeHow can employers promote the value of their online benefits schemes?Kathryn Evans: Can employers ask staff to return to the workplace after restrictions are lifted?61% ...
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ArticleAgfa UK completes £230 million bulk annuity deal
Analogue and digital imaging systems producer Agfa UK has completed a £230 million bulk purchase annuity transaction with Phoenix Group, covering 70% of the scheme’s pensioner liabilities.The buy-in is the first bulk annuity undertaken by the scheme. As part of the trustee’s long-term de-risking strategy, additional funding support which facilitated ...
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ArticleLow earners lose employer pensions contributions
Low-paid UK workers who lost income during the Covid-19 (Coronavirus) pandemic have missed out on employer pension contributions estimated to be worth £122 million, according to new research.The figure was calculated by pensions specialist Scottish Widows in its latest Retirement report, which was carried out online by YouGov among 5,059 ...
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ArticleEmployer support drops for FTSE 350 DB pensions
Employer support for defined benefit (DB) pension schemes has fallen to levels similar to those at the start of the Covid-19 (Coronavirus) pandemic.PricewaterhouseCooper’s (PWC) latest Pension Support Index (PSI) measures the profitability, cash generation and balance sheet strength of corporates that are sponsors of DB schemes, and compares that to ...
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Article61% of employers may move to master trust pension
Nearly two-thirds of employers that run their own defined contribution (DC) trust-based pension arrangement is considering moving to a master trust in the next two years.As part of its annual FTSE 350 DC pension study 2021, which covers 95% of eligible companies in the FTSE 100 and 250 indices, Willis ...
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Article
Poll: Does your organisation use salary sacrifice for workplace pensions?
[polldaddy poll=10876545]
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ArticleCommonwealth Bank of Australia UK secures £420m pensions buy-in
Staff at the Commonwealth Bank of Australia (UK) will see their pension benefits secured under a £420 million buy-in deal.Capital Cranfield Pension Trustees has safeguarded the pensions of all UK members of the Commonwealth Bank of Australia Staff Benefits Scheme via the full buy-in with Legal and General Assurance Society.This ...
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ArticleThe top 10 most-read articles between 2 July - 8 July 2021
The top 10 most-read stories on employeebenefits.co.uk between 2 July – 8 July 2021 were: NHS staff to protest over proposed pay riseAsda unveils hybrid working modelTransUnion launches flexible Fridays for UK staffThe Royal household looks for new recruits57% want their pension to be invested responsiblyFintru implements pregnancy loss policyKavitha's ...
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Article50% use salary sacrifice benefits for pensions
Research conducted by Workplace Pensions Direct (WPD) and YouGov has found that only half of British businesses are using the salary sacrifice benefits available for workplace pensions.According to WPD, this means that more than 15 million people could be missing out on the ability to contribute an average extra £204 ...
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Case Studies
Infographic: Retirement planning in numbers
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Case StudiesNationwide engages employees with all aspects of retirement planning
Nationwide Building Society has just over 18,000 employees working in high street branches and in call centres throughout the UK.Ian Baines, head of pensions, people and culture at Nationwide, says:“The pension is a key part of our offering. We encourage our 16 million members to save so we want to ...
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AnalysisHow can employers raise awareness of the pensions freedoms among workforces?
Need to know:The pension freedoms have left many employees aged over 55 bewildered and unprepared.Employers can get their pension providers to do nudge campaigns and offer webinars.They should point all over 50s to the free government guidance service Pension Wise.When it comes to workplace pensions, many employees are floundering, particularly ...
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Article57% want their pension to be invested responsibly
New research has found that while approximately 3.14 million people (15%) currently invest responsibly in their pension either through their workplace or privately, an additional six million could change to responsible investing once they understand what it involves.Mutual pension provider Royal London revealed that more than half (57%) want their ...