All Pensions articles – Page 38

  • Tony-Pugh-Aon
    Opinion

    Tony Pugh: Master trust consolidation implications for employers and members

    2019-07-25T07:00:09Z

    One of the biggest success stories from the last five years of pensions auto-enrolment has been the growth of the master trust market, with over 14 million savers now enrolled in master trust schemes.While many providers rose to the challenge of providing well-run schemes for members and their employers, others ...

  • piggy
    Article

    EXCLUSIVE: GPPs are offered as the primary scheme at 66% of organisations

    2019-07-22T13:00:01Z

    EXCLUSIVE: Group personal pensions (GPPs) are the most popular primary schemes for auto-enrolment purposes, offered by 66% of respondents, according to research by Employee Benefits.The Benefits research 2019, published in May 2019, surveyed 290 HR professionals, and found that GPPs have remained the most popular choice for a number of ...

  • image-050719
    Supplier article

    Overcoming the risks at-retirement: INEOS' experience

    2019-07-05T09:50:14Z

    There is no doubt that freedom and choice in pensions has increased the risks and complexity for all; however retirement income can be optimised if good decisions are made.INEOS recently joined WEALTH at work to discuss the background behind this and the steps it’s taken to help their employees become ...

  • Penny-Mordaunt-2
    Article

    Government to consult on gender pay gap metrics as part of gender equality roadmap

    2019-07-04T14:53:39Z

    The government will review gender pay gap reporting metrics, evaluate shared parental leave and consult on providing dedicated employment rights for carers as part of its work to tackle gender inequalities.The Government Equalities Office (GEO) and member of Parliament Penny Mordaunt (pictured), the minister for women and equalities, published the ...

  • Smiths-Group
    Article

    Smiths Group completes pensioner buy-in transaction worth £176m

    2019-07-04T08:00:16Z

    Engineering organisation Smiths Group has completed a bulk annuity buy-in transaction with insurer Canada Life.The policy insures the pension liabilities, worth around £176 million, for more than 2,000 legacy pensioners and dependents of the Smiths Industries Pension Scheme.The buy-in arrangement has been designed to de-risk the pension scheme’s liabilities; to ...

  • Royal Mail
    Case Studies

    Royal Mail seeks pensions equality from collective defined contribution scheme

    2019-07-04T05:00:59Z

    Royal Mail can lay claim to designing a consistent and fair pension scheme in its novel collective defined contributions (CDC) scheme. The scheme is not yet in force, but enabling legislation in Parliamentary under-secretary of state at the Department for Work and Pensions Guy Opperman's Pensions Bill is expected in ...

  • spirit-level
    Analysis

    What can employers do to rebalance pension gaps in organisations?

    2019-07-04T05:00:54Z

    Need to know:The UK corporate governance code was strengthened in July 2018 to oblige organisations to align new executive directors’ pensions with those available to the wider workforce.Despite political and shareholder impetus, so far executive pension rates are drifting down quite slowly, with 25% of pay viewed as acceptable. This ...

  • Caroline-Escott
    Opinion

    Caroline Escott: Fair pensions policies are needed to ensure good employee morale

    2019-07-03T14:17:46Z

    Gone are the days when institutional investors like pension funds, insurance firms and other large asset managers kept a low profile and quietly, passively, bought and held their shares in organisations they expected to grow over time.With analysis of environmental, social and governance practices becoming mainstream in investment management, professional ...

  • CGI-2
    Case Studies

    The benefits offered by CGI UK

    2019-07-01T14:00:06Z

    The benefits offered by CGI UK:Pensions, pay and group riskA contract-based group personal pension (GPP), defined contribution (DC) scheme is used for auto-enrolment when employees reach two months of service. Minimum contributions are 9%, with at least 3% contributed by employees and 6% provided by CGI UK. This increases depending ...

  • Judges
    Article

    Supreme Court refuses government’s appeal in judges’ pensions discrimination case

    2019-06-28T10:03:11Z

    The Supreme Court yesterday (Thursday 27 June 2019) refused permission for the government to appeal in the ongoing age discrimination case regarding judges’ pensions.In January 2017, the London Central Employment Tribunal ruled that the Ministry of Justice and Lord Chancellor had discriminated against judges with regards to changes to the ...

  • Wind-farm
    Analysis

    How are ESG factors impacting pension engagement strategies?

    2019-06-27T05:00:59Z

    Need to know:Awareness of environmental, social and corporate governance (ESG) factors in pensions investment is increasing as regulatory requirements push it up the agenda.Employers can align the ESG considerations in their pensions investment strategy with their own corporate and social responsibility (CSR) policies.More employee education is needed to ensure they ...

  • Clare James
    Opinion

    Clare James: Increasing focus on ESG factors could help engage employees with pensions

    2019-06-27T05:00:01Z

    The deadline for updated statements of investment principles (Sips) on 1 October 2019 is fast approaching; this time round they will need to include the trustees’ policy in relation to economic, social and governance (ESG) and other financially material considerations. It is no surprise, then, that ESG has been a ...

  • Stuart O'Brien
    Opinion

    Stuart O'Brien: Be aware of updates to statements of investment principles

    2019-06-26T15:00:56Z

    From October 2019, trustees of all occupational pension schemes with more than 100 members must update their pension scheme’s statement of investment principles (Sip) to cover the trustees’ policies on environmental and other sustainable investment issues.It is important that employers are aware of these changes and discuss approaches with their ...

  • Sarah Robson
    Article

    Half believe benefits are not meeting the needs of multigenerational workforce

    2019-06-17T10:34:46Z

    Half (50%) of employers do not think their benefits offering is meeting the needs of all generations within their workforce, with 89% believing that they will need to change their package to suit future generations entering the workforce, according to research by Aon.The Benefits and trends survey 2019, which polled ...

  • Steve-Watson
    Article

    EXCLUSIVE: Almost nine in 10 employers feel responsibility to provide financial wellbeing

    2019-06-10T10:03:26Z

    EXCLUSIVE: Almost nine in 10 (88%) HR and benefit professionals have stated that it is their responsibility to provide support to employees on financial wellbeing, according to research by Smarterly.Realigning the workplace savings offering to meet the needs of millennials, which surveyed 1,248 employees and 508 HR professionals in the ...

  • mothers pension bonus
    Article

    Consumers’ association recommends new mothers receive a £2,000 pension bonus

    2019-06-06T15:27:20Z

    Consumers’ association and charity Which? has recommended that new mothers receive a £2,000 pension bonus to help mitigate the gender pensions gap.In its Top up the pots: Achieving adequate retirement incomes with automatic enrolment report, conducted with the Pensions Policy Institute and published in June 2019, Which? proposesd that new ...

  • Confessions
    Article

    Confessions of a benefits manager: Candid examines HR policies

    2019-06-06T15:00:23Z

    I am still reeling from the shock. Big Bad Boss has called me in and said they (presumably the Higher Beings on the third floor) want me to update the intranet. What all of it? Big Bad Boss seems to think so. He waves my concerns away with the back ...

  • Rolls-Royce
    Article

    Rolls-Royce completes pensioner buy-in transaction to insure £4.1bn pension liabilities

    2019-06-06T13:58:18Z

    Engineering organisation Rolls-Royce has completed a pensioner buy-in transaction with Legal and General Assurance Society, totalling £4.1 billion.The policy insures the pension liabilities, worth around £4.1 billion, for 33,000 pensioner members of the Rolls-Royce UK Pension Fund, which has a total of 76,000 members. In addition, approximately £4.6 billion of ...

  • db-pension
    Article

    Defined benefit pension deficit increases to £240 billion as of May 2019

    2019-06-06T11:06:23Z

    The deficit for defined benefit (DB) pension schemes in the UK has increased to £240 billion as of the end of May 2019, according to research by PricewaterhouseCoopers (PWC).Its Skyval index, which is based on aggregated data from 5,450 corporate DB pension funds, and is collected through the Skyval pensions ...

  • Judges
    Article

    Government introduces recruitment and retention allowance for judges

    2019-06-06T10:20:20Z

    The Ministry of Justice (MOJ) has introduced a new temporary allowance for High Court, Circuit and Upper Tribunal judges in order to improve retention and recruitment.The policy, which was announced on Wednesday 5 June 2019, will award an allowance at 25% of base salary for High Court judges, while Circuit ...