All Pensions articles – Page 36
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ArticleTelent agrees bulk annuity transaction to cover 39,000 pension scheme members
Technology and telecommunications organisation Telent has agreed a bulk annuity buy-out transaction with specialist insurance firm Rothesay Life.The two-part transaction, which will consist of both a buy-in and buy-out process, aims to secure the pension benefits and existing benefit terms and conditions for approximately 39,000 members within Telent’s defined benefit ...
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Supplier article
How Experian supports its scheme members at-retirement
With freedom and choice in pensions revolutionising the options available for individuals, Experian identified the need for a retirement financial education service to support its employees.WEALTH at work were appointed in March 2018 to create a bespoke at-retirement financial education and guidance programme for around 9,500 of Experian’s Retirement Savings ...
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ArticleTwo-fifths think pension funds will fall in value as a result of Brexit
Just over two-fifths (42%) of respondents believe that their pension funds will fall in value as a result of Britain's exit from the European Union (Brexit), currently projected for 31 October 2019, according to research by pension provider Aegon.Aegon's bi-annual Retirement confidence survey, which surveyed 830 respondents recruited via the ...
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Supplier articleMaking a case for investment in Wellbeing
An investment in workplace wellbeing is an investment in the business.When a HR Manager approaches the board to propose an employee health and wellbeing initiative, they may be met with certain challenges or questions. One such question might be: "Why should we invest in the wellness of our employees?" A ...
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ArticleTake part in exclusive pensions research to benchmark strategy and map trends
What primary and secondary pension schemes are employers offering to staff? Are employees saving enough to be comfortable in retirement? How recently have organisations conducted pensions communications exercises? What are businesses doing to tackle the gender pension gap?Employee Benefits readers can now have their say by participating in this year's ...
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Supplier articleBenefex announces major UK expansion to support global growth
Employee Experience platform provider expands Southampton headquarters with state-of-the-art innovation lab, creating over 50 new jobs.Benefex, the people behind the award-winning employee experience platform, OneHub, today announces the major expansion of its headquarters in Southampton. The announcement comes following the company’s investment from Bain Capital Private Equity last year, and ...
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AnalysisTop tips on using workplace interventions to boost pensions engagement
Need to know: Workplace interventions can make pensions engaging, interesting and even fun for employees who might not have thought about them previously.Combining group and one-to-one sessions, as well as open dialogue with the audience, can ensure a wide range of employees are catered for.Marketing techniques, such as attention-grabbing events, ...
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Case StudiesHachette uses workplace event to engage younger staff with pension contributions
On 28 November 2018, London-based publisher Hachette undertook a workplace event aimed at getting the 930 employees in its Victoria Embankment office enthused about their pensions. This is particularly important as, with a workforce predominantly aged between 25 and 40, it can be difficult to engage staff with a topic ...
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Case StudiesAnglian Water provides for financial wellbeing across varied life stages
Utilities organisation Anglian Water has approximately 5,000 employees in the UK, half of whom are based across its main office locations, with the remaining half working operationally around the country.With such a varied workforce demographic, which also spans numerous generations, it is important that the organisation’s financial wellbeing support can ...
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OpinionMartin Parish: Money under the mattress - why support financial wellbeing
Although stashing money under the mattress is, we hope, a thing of the past, the legacy of bad money management continues. The Money Advice Service (MAS) estimates that four in 10 people in the UK have poor financial capability, meaning they cannot manage their money day-to-day, nor handle periods of ...
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Supplier articleAre Your Employees Pension Aware?
While many of us like to imagine the sort of life we might have after work, unfortunately not enough of us are making adequate financial provision to pay for that lifestyle. Despite approximately a third of employees having joined a pension scheme under auto-enrolment by the end of July 20191, ...
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ArticleHalf of UK residents are confident they can retire comfortably
Half (52%) of UK individuals are confident about their ability to retire comfortably, compared to 48% who agreed with this in 2017, according to research by Aegon.The Retirement confidence survey, which polled 830 UK residents, further found that 10% of individuals do not have any pension savings, while 36% have ...
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Case StudiesThe benefits offered by The Grand Brighton
The benefits offered by The Grand Brighton:PensionsA master trust pension scheme for auto-enrolment purposes, provided by The People's Pension, which follows the minimum statutory contribution rates. There are currently 240 eligible employees within this scheme, because some staff work flexibly or are too young to be eligible.Managers and supervisors are ...
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Case StudiesThe Grand Brighton reinvigorated benefits package upon becoming independent
Luxury seafront hotel The Grand Brighton reinvigorated the benefits and reward package offered to its 300 employees, to align with new corporate values developed when it became an independent entity in January 2018.This change in status empowered its HR and benefits team to revamp its reward offering and set a ...
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ArticleTPR prosecutes director for failing to cooperate with pensions investigation
The Pensions Regulator (TPR) is prosecuting director and shareholder of trustee firm PIM Trustees, Michael Woolley, for failing to provide information and documents in support of an ongoing pensions investigation.On 22 January 2019, TPR issued a notice in writing under section 72 of the Pensions Act 2004, requiring Woolley to ...
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ArticleSeven in 10 employees are not actively engaged with their workplace pension
More than seven in 10 (72%) employee respondents are not actively engaged with their workplace pension, according to research by Atlas Master Trust, part of Capita.Its Why engagement needs a reality check white paper, which surveyed 200 pension managers, 200 senior finance professionals, 100 senior HR professionals and 2,000 employees, ...
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ArticleThérèse Coffey appointed secretary of state for work and pensions
Conservative MP Thérèse Coffey (pictured) is the new secretary of state for work and pensions, replacing Amber Rudd MP.Coffey, who was elected as MP for Suffolk Coastal in May 2010, was appointed to her new office on Sunday 8 September 2019.Previously, Coffey served as the minister of state at the ...
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ArticleDefined benefit pension deficit increases to £340 billion as at August 2019
The deficit for defined benefit (DB) pension schemes in the UK has increased by £100 billion between July and August 2019, reaching £340 billion as at the end of August 2019, according to research by PricewaterhouseCoopers (PWC).The Skyval index, which is based on aggregated data from 5,450 corporate DB pension ...
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ArticleUK-based Ryanair pilots undertake three-day strike
UK-based pilots employed by airline Ryanair who are members of The British Airline Pilots Association (Balpa), are undertaking three days of strike action, starting today (Monday 2 September 2019).Balpa members employed by Ryanair were balloted in August 2019 with regards to industrial action; based on a 72% turnout, 80% voted ...
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ArticleDepartment for Education to increase teacher starting salary and pension contributions
The Department for Education has announced today (Monday 2 September 2019) that starting salaries for new teachers will increase to £30,000 a year by the 2022-2023 financial year, and that employer pension contributions will rise to 23.6%.Education secretary Gavin Williamson (pictured) has confirmed that new teacher salaries will increase by ...