All Pensions articles – Page 39
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ArticleEXCLUSIVE: 67% have undertaken pensions communications within the last year
EXCLUSIVE: Employers are responding to the challenge of ensuring staff are saving enough for a comfortable retirement by continuing to open up communications channels around pensions, according to research by Employee Benefits.The Employee Benefits/Wealth at Work Pensions research 2019, which was conducted during October 2019 among 135 HR decision makers, ...
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OpinionLucy Bennett: 2020 will see new regulatory requirements for pension scheme trustees
By 1 October 2019, trustees of occupational pension schemes, with a few specific exceptions, had to update their scheme’s statement of investment principles (Sip) to cover, among other things, the trustees’ policies on environmental and other sustainable investment issues.Further changes are coming in 2020. If an employer sponsors a scheme ...
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ArticleEXCLUSIVE: Almost half of employers offer at-retirement support
EXCLUSIVE: The value of providing at-retirement support is becoming gradually more apparent to employers, with 46% of HR decision-makers stating that their organisation helps staff with this life stage in 2019, compared to 39% of employers in 2018 and 40% in 2017, according to research by Employee Benefits.This increasing interest ...
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ArticleFrench transport employees strike over pension reforms
Image credit: Willy BartonFrench transport workers, represented by the Confédération Générale du Travail (General Confederation of Labour (GCT)), are undertaking strike action today (17 December 2019) in an ongoing dispute regarding pension reforms.This is the 13th day of strike action in protest of French prime minister Edouard Philippe's November 2019 ...
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ArticleNine in 10 say employers should support all aspects of staff financial wellbeing
Almost nine in 10 (88%) senior HR professional believe it is an employer’s responsibility to provide support on all aspects of staff financial wellbeing, according to research by Smarterly.The research, published in December 2019, surveyed 250 HR professionals within organisations with 300 or more employees. It also found that almost ...
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ArticleEXCLUSIVE: 54% of employers do not think staff are saving enough for retirement
EXCLUSIVE: In answer to a new question asked of them this year, more than half (54%) of survey respondents do not feel that their organisation’s employees are saving enough to be comfortable once they exit work, according to research by Employee Benefits.The Employee Benefits/Wealth at Work Pensions research 2019, which ...
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ArticleEXCLUSIVE: 5% of employees are affected by pension tax allowance limits
EXCLUSIVE: The lifetime and annual allowance limits that were introduced in 2016 have led some employers to look at alternative options in place of pension contributions.Across all respondents, a mean 5% of employees are affected by the allowance limits, according to research by Employee Benefits.The Employee Benefits/Wealth at Work Pensions ...
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ArticleEXCLUSIVE: 26% want guidance on retirement decisions due to pension freedoms
EXCLUSIVE: The pension freedoms, introduced in April 2015, gave many employees increased choice around how and when to access their pension. However, with more choice and flexibility has come a greater need for guidance around retirement savings.This year, 26% of respondents have found that more employees want guidance around decisions ...
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Supplier articlePension withdrawals top £30bn
Since pension freedoms were introduced by George Osborne in 2015, there is no doubt drawing down a pension pot is becoming the most popular method by which a person accesses their pension fund after age 55.It’s interesting that the amount of withdraws is rising as the statistics show savers withdrew ...
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ArticleEXCLUSIVE: 34% have widened communications due to auto re-enrolment
EXCLUSIVE: Under auto-enrolment legislation, employers are required to re-enrol employees into a pension scheme every three years. Many employers have used this as a lever to expand their communications strategy. For example, 34% of respondents have introduced, or plan to introduce, wider communications around pensions and retirement saving, while 23% ...
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ArticleEXCLUSIVE: Three-fifths do not offer a secondary pension scheme
EXCLUSIVE: Almost three-fifths (57%) of respondents do not offer a secondary pension scheme, according to research by Employee Benefits.The Employee Benefits/Wealth at Work Pensions research 2019, which was conducted during October 2019 among 135 HR decision makers, also found that of those that do offer a secondary scheme, the most ...
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OpinionTim Middleton: Do pensions still have a role in attracting talented employees?
Decades ago, a pension scheme would have played a vital role in helping employers recruit and retain talented individuals.Today, however, things are significantly different. For one, employers are far less likelyto want to recruit employees who will stay with them to retirement. Moreover, as it is now a statutory requirement ...
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Case StudiesUniversity of Lincoln uses targeted communications to position pensions
With about 2,000 employees enrolled across six pension schemes, the University of Lincoln faces a considerable challenge when it comes to reaching its entire workforce, let alone effectively engaging staff with pensions.To position retirement savings as a key element of the employee journey and the overall reward package, the university ...
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AnalysisEnhanced engagement: Positioning pensions within an employee value proposition
Need to know:Pension scheme positioning does not just enhance the employee value proposition (EVP) at the point of recruitment, but should be a factor in the entire employment life cycle.For a pension scheme to attract and retain talent, its contributions need to be more generous than the minimum set by ...
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ArticleUCL academics and outsourced domestic staff unite in strike over pay and conditions
University College London (UCL) academic, support and domestic staff have joined together for the first ever combined strike of direct and outsourced university staff today (4 December 2019).Represented by the Independent Workers Union of Great Britain (IWGB), staff including outsourced cleaners, porters and security officers who are currently employed by ...
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ArticleEXCLUSIVE: Majority of employers contribute above auto-enrolment minimum
EXCLUSIVE: The majority of employers are contributing higher rates into their employees’ pensions than the minimum amounts required under auto-enrolment, according to research by Employee Benefits.The Employee Benefits/Wealth at Work Pensions research 2019 was conducted during October 2019 among 135 HR decision makers.Legislation calls for employers to contribute at least ...
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ArticleEXCLUSIVE: 53% of employers offer GPPs as primary pension scheme
EXCLUSIVE: The most common primary pension scheme offered by employers this year is a group personal pension (GPP) plan, cited by more than half (53%) of respondents, according to research by Employee Benefits.The Employee Benefits/Wealth at Work Pensions research 2019, which was conducted during October 2019 among 135 HR decision ...
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Supplier articleSix ways to get your leaders on board for your employee benefits investment
New research indicates that three-quarters of employees want a more tailored benefits offering. That's why leading HR innovators are leveraging technology to expand and improve their benefits offering to give employees what they really want.But what often stops people from implementing a world-class benefits programme? The elusive tick of approval.After ...
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OpinionJeremy Harris: Universities must review their pension strategies
With rampant news about the eight day industrial action by staff at 60 universities across the UK this week, it is hard to make sense of the history and reasoning behind the current strike, and, more importantly, why now is the time for universities to review their pension strategy.Back in ...
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ArticleTiny Hearts Day Nursery ordered to pay £8,200 for failing to pay staff pensions
Childcare provider Sulouste, which trades as Tiny Hearts Day Nursery, has been ordered to pay £8,200 to 13 employees for failure to comply with pension duties, the Pensions Regulator (TPR) has ruled.The sentencing was held at Brighton Magistrates’ Court on 20 November 2019 after the defendants pleaded guilty to the ...