All Pensions articles – Page 40
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Article
Staff at 60 UK universities commence strike action in dispute over pay and pensions
Staff employed at 60 UK universities, and who are members of the University and College Union (UCU), have commenced strike action today (Monday 25 November 2019) in a dispute over pay, conditions and pensions.The strike, which will affect institutions across the UK, including York, St Andrews, Cardiff, Cambridge, Oxford and ...
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OpinionTony Britton: Important questions when choosing a master trust
Since the introduction of master trust authorisation (MTA) earlier this year, every workplace master trust must be formally approved by The Pensions Regulator (TPR). It is a robust process that sets high standards and requires master trusts to keep them there.However, it does not mean that all approved master trusts ...
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ArticleA third of women do not know how much they have saved in pensions
Just over a third (34%) of women are not aware of how much they have saved in pensions, compared to only 16% of men, according to research by Aegon.The Aegon retirement confidence survey, which tracked the responses of a sample of 830 representative UK residents, also found that 40% of ...
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ArticleEmployee Benefits/Wealth at Work pensions research 2019
Click to download the Employee Benefits/Wealth at Work pensions research 2019 reportThe Employee Benefits/Wealth at Work pensions research 2019 was conducted in October 2019 among readers of https://employeebenefits.co.uk. It received 135 responses.This report is aimed at helping compensation, reward and benefits professionals understand the key issues driving current pension strategies, ...
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OpinionAnne-Marie Winton: Higher fines and tougher penalties following the Pensions Bill
Now that the general election campaign is upon us, October's Queen’s Speech is all but forgotten, but, should the Conservatives win a majority, one piece of draft legislation with a far-reaching impact seems set to become law early in 2020: the Pension Schemes Bill.The principal objectives of this bill are ...
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ArticleRos Altmann: What actions would you recommend to government on pensions?
There are several urgent reforms that the new government should consider for early legislation. As the Pension Schemes Bill was abandoned before dissolution of Parliament, it will need to be revived next year.Regulators need more powers to force pension providers to improve the quality of their data records and provide ...
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ArticleRob Yuille: What actions would you recommend to government on pensions?
People find pensions complicated, this we know. So, as political parties do their best to woo the electorate, the Association of British Insurers (ABI) has identified three areas in which a new government can improve the pensions system by making it fairer, safer and simpler for consumers to understand and ...
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ArticleLesley Browning: What actions would you recommend to government on pensions?
Pensions issues have been largely ignored recently. The Pension Schemes Bill died when Parliament dissolved, and even that failed to deal with many burning issues. So, what is on my pensions wish list for any new government?First, allow trustees to invest for good. Pension trustees have to reveal their investment ...
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ArticleFrimley NHS staff protest transfer that could erode pay and conditions
Frimley Health NHS Trust staff who are members of trade unions Unite and GMB are taking industrial action today (18 November 2019) to protest their transfer to a Wholly Owned Subsidiary (WOS), which they claim will risk eroding their pay and employment conditions.Estates management, equipment maintenance, catering, portering procurement and ...
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ArticleSKL Recruitment charged with non-payment of pension contributions
Recruitment agency, SKL Recruitment has pleaded guilty to falsely claiming that it had enrolled employees into a workplace pension scheme.Appearing at Brighton Magistrates' Court on 13 November 2019, the Hertfordshire-based employer admitted to misleading The Pensions Regulator (TPR) by providing false information.Managing director Linus Kadzere told TPR at that his ...
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Case StudiesPolice Scotland harmonises pay and benefits for 6,000 staff
Three years ago, national police force Police Scotland embarked on a project to harmonise its employee benefits, as well as its employment terms and conditions, for its 6,000 non-officer staff.Known internally as the Staff Pay and Reward Modernisation Programme (SPRM), the project aimed to introduce equality and fairness to the ...
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Case StudiesThe benefits offered by Police Scotland
The benefits offered by Police Scotland:PensionsThe Local Government Pension Scheme, a career average revalued earning (Care) scheme, is available for all staff; employee contributions vary dependent on salary and Police Scotland contributes around 19% of an employee’s salary.PayOvertime pay of time and a half, and double time for working on ...
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OpinionPhilomena Price: Employment law changes to watch out for from April 2020
April 2020 sees some key changes coming into force that employers need to be aware of. As with any employment law matter, it is beneficial if employers start thinking about how these changes may affect their businesses now, and plan accordingly, rather than waiting.First, all workers, including employees starting work ...
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ArticleApproximately 4.3 million Generation X employees will retire with inadequate savings
Generation X are at a greater risk of reaching retirement with a pension pot that is below what they need to retire comfortably, compared with the baby boomer and millennial generations.According to the Pension Policy Institute's (PPI) Generation VeXed: Solving the retirement puzzle report published in November 2019, employees who ...
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AnalysisRetirement income: Pensions in numbers
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Supplier articleTop 5 considerations for employees and members before accessing their pension
Whilst freedom and choice in pensions is popular with individuals, the downside is it can be easy for employees and pensions scheme members to make poor decisions which can create a permanent dent in their retirement income. For example, paying more tax than necessary, falling victim to a scammer or ...
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ArticleTiny Hearts Day Nursery prosecuted for auto-enrolment compliance violations
Childcare provider Sulouste, which trades as Tiny Hearts Day Nursery, is being prosecuted by The Pensions Regulator (TPR) in relation to failures to comply with auto-enrolment regulations.Tiny Hearts Day Nursery and its director Christine Moore have been accused of wilfully failing to undertake the auto-enrolment responsibilities outlined under sections 45 ...
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OpinionPhil Spary: Testing times for master trust pension schemes
It is no surprise that considerable emphasis on governance standards and regulatory expectations have continued to be a focus in the minds of those responsible for running master trust pension schemes. Having been taken through a rigorous authorisation process, trustees and their advisers will have considered the suitability of their ...
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AnalysisInfographic: Key dates surrounding GMP equalisation
!function(e,i,n,s){var t="InfogramEmbeds",d=e.getElementsByTagName("script")[0];if(window[t]&&window[t].initialized)window[t].process&&window[t].process();else if(!e.getElementById(n)){var o=e.createElement("script");o.async=1,o.id=n,o.src="https://e.infogram.com/js/dist/embed-loader-min.js",d.parentNode.insertBefore(o,d)}}(document,0,"infogram-async");Read more...What do employers need to know about the GMP equalisation process?
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AnalysisWhat do employers need to know about the GMP equalisation process?
Need to know:Following the Lloyds Banking Group case, organisations must explore how to equalise historical guaranteed minimum pensions (GMP) between men and women.Employers can opt to convert into a non-GMP pension scheme, or they can use dual records to calculate the correct amount of pension benefit on a year-by-year basis.Although ...