All Pensions articles – Page 23
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Article16% of employees want to contribute more to their workplace pension
A total of 16% of employees plan to increase their workplace pension contributions as a result of the Covid-19 (Coronavirus) pandemic, according to findings from Close Brothers.The new report, Expecting the unexpected: a spotlight on preparing for a crisis, was compiled based on data from 2,000 UK-based staff at companies ...
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ArticleGeneral Electric faces industrial action over pension reforms
UK division workers at General Electric (GE) have threatened industrial action over reforms to the company's pension schemes, following criticism from the union Unite.Back in January, the digital industrial company announced proposals to freeze the accrual of benefits for 2,800 staff across its UK businesses, as well as all current ...
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ArticleFTSE 350 pension scheme deficits increase to £81 billion
The accounting deficit for defined benefit (DB) pension schemes at the UK’s top 350 FTSE organisations increased by £5 billion to £81 billion in May this year, up from £76 billion in April 2021.According to Mercer’s Pensions risk survey, which analysed pension scheme deficits calculated using the approach organisations have ...
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OpinionChris Brooks: Changes are needed to help women save more for retirement
In our increasingly uncertain world, building a future income by saving into a pension is very important. Auto-enrolment has helped many people to do this, with more than 10 million new savers since its inception, which is the start of building a platform for people’s later life.However, women are still ...
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AnalysisHow can employers encourage women to save more into their pensions?
Need to know:The disparity in pensions between the sexes remains huge, with the median pension wealth of women coming up to retirement standing at just one-third of men’s.A clean way to help remedy this is to extend workplace schemes to all employees, including those earning under the £10,000 mandated by ...
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Case StudiesACCA opens up conversations with female employees around pensions
The Association of Chartered Certified Accountants (ACCA) accredits and supports a global community of 227,000 members and 544,000 future members. The organisation is headquartered in London and has around 1,400 employees in 44 countries with around 950 in the UK.As befits the first accountancy body to admit women to membership ...
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ArticleEmployee benefits could ease the burden for Generation X carers
New data has suggested that offering statutory paid parental leave and flexible working could ease the burden for Generation X carers.According to the International Longevity Centre’s (ILC) Slipping between the cracks report which was supported by long-term savings and retirement business Phoenix Group, carers from Generation X - those born ...
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OpinionSarah Henderson: What pension scheme employers should be prioritising in terms of GDPR
Pension scheme employers and trustees spent many hours getting ready for the revamped data protection regime that came into force on 25 May 2018. What’s new in the data protection landscape and what should pension scheme employers and trustees be prioritising three years later?First, mapping your data footprint remains a ...
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ArticleJohn Wyeth and Brother completes £190 million bulk annuity deal
The defined benefits (DB) liabilities of members of the John Wyeth and Brother's Wyeth Group Pension and Life Assurance Scheme (1997) have been insured by Aviva, it has been announced.The £190 million bulk annuity buy-in transaction means the DB pension liabilities for approximately 2,000 members of the scheme are protected, ...
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ArticleKavitha’s keynote: Employers must take heed of the gender pensions gap
Figures out this week showed that in the UK men have 38% more in their pension pot than women, with a 57% gap in favour of men found in Northern Ireland. But it’s not the first time research has highlighted such a huge disparity in gender pensions savings.Meawhile, other pensions ...
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ArticleUK gender pensions gap averages 38%
Research carried out by PensionBee has revealed that depending on age and location, the UK gender pensions gap is as high as 57%.The online pension provider found UK men have saved £24,236 towards their retirement compared to just £15,006 saved by UK women, which is a 38% gap in the ...
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Case StudiesThe benefits offered by Aster Group
The benefits on offer at Aster Group: Pension and financial wellbeingThe Social Housing Pension Scheme (SHPS) master trust, available for all employees with auto-enrolment contribution levels of 4% employee and 4% employer.Financial webinars.Pension one-to-ones, employer-paid.Retirement modeller.Healthcare and wellbeingHealth cash plans with Simply Health for all employees, employer-funded at level one, ...
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Article25% would increase pension contributions if they understood tax relief
One in four people would be more likely to increase pension contributions if they understood tax relief better, according to new research.A survey of 2,000 UK adults carried out by Opinium on behalf of insurer Royal London found that 15% of respondents fully understood how tax relief on pension contributions ...
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ArticleThe top 10 most-read articles between 13 May – 20 May 2021
The top 10 most-read stories on employeebenefits.co.uk between 13 May – 20 May 2021 were: Get paid £1,000 to test bottomless brunchesDaisy Hooper: Should employers cut pay for staff who continue to work from home?Modibodi offers leave for menstruation, menopause and miscarriagesClare Fletcher: Should employees cut pay for staff who ...
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ArticleIkea, Brewdog and Oxfam sign up to Green Pensions Charter
A total of 50 employers have signed the new Green Pensions Charter to ensure that their pensions are invested more sustainably in order to take action on climate change.The charter, launched today (18 May) by the campaigns Make My Money Matter and Count Us In, has 50 signatories including Ikea, ...
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Article25% of 55-64-year-olds unaware of pension freedoms
More than six years after employees gained pension freedoms that gave them more control of their retirement savings, research has revealed one-in-four people aged 55-64 are not aware of them.This lack of knowledge among the age group most likely to need the freedoms was highlighted by Fidelity International. According to ...
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ArticleConfessions of a benefits manager: Candid declutters her inbox
Who are these people who achieve ‘inbox zero’ with their email? I think it must be an urban myth put about by people who have personal assistants. Still, I always used to aim for a white space at the bottom of my inbox by the end of the day. How ...
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ArticlePension participation stalls for first time since 2012
Data released by the Office for National Statistics (ONS) has revealed 78% of people now have a workplace pension – up from 47% just eight years ago.The findings, which showed figures as at April 2020, also highlighted that last year was the first since 2012 where pension participation levels remained ...
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ArticleEmployees still losing track of their pensions
Despite all the marketing and employee communications, the number of people who have lost track of at least one of their pensions has barely improved at all in the past five years, according to new research.Data released by Aegon has revealed 17% of those with multiple pensions do not readily ...
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Case StudiesMorgan Sindall adds ESG funds to pension scheme following staff survey
Morgan Sindall retirement savings plan is a trust-based arrangement with around 5,000 members. In 2019, the employer surveyed its member’s views on responsible investment, looking at the importance of this both in their day-to-day lives and with regards to their retirement savings. Almost a third (30%) of members responded, and ...