All Pensions articles – Page 42
-
ArticleAlmost two-fifths of employers do not view financial wellbeing strategies as a priority
Almost two-fifths (37%) of employer respondents that have no plans to implement a financial wellbeing strategy for staff state that this is because it is not a priority, according to research by Close Brothers Asset Management.Its Financial wellbeing index 2019 report, which surveyed 1,003 employers with 200 or more staff ...
-
ArticleEXCLUSIVE: The majority of employers do not currently offer a Lisa
EXCLUSIVE: Most employers (78%) do not currently offer a Lifetime individual savings account (Lisa), according to research by Employee Benefits and Barnett Waddingham.The report, Employee Benefits/Barnett Waddingham pensions research 2018, which was published in December 2018 and gathered 246 responses, fount that only 3% of organisations offer employees a Lisa, ...
-
ArticleFCA to consult on protecting retirement income when accessing pension freedoms
The Financial Conduct Authority (FCA) yesterday (28 January 2019) launched a consultation on proposed measures designed to protect retirement income when individuals access pension freedoms.The consultation, which will be collecting feedback from stakeholders until 5 April 2019, proposes that pension scheme members who do not take financial advice should be ...
-
ArticleSavers have accessed £23.6 billion through pension freedoms
Retirement savers have accessed approximately £23.6 billion through pension freedoms since reforms were introduced in April 2015, according to data from HM Revenue and Customs (HMRC).Its Flexible payments from pensions: January 2019 report also found that the number of individuals who have received flexible payments from their pensions between the ...
-
ArticleCoffin Mew to introduce new employee proposition for 220 staff
Regional law firm Coffin Mew is to introduce a range of new employee benefits and workplace initiatives from April 2019 as part of its talent attraction and retention strategy.The new proposition, which is particularly focused on tackling gender equality and agile working, has been designed to align with the firm's ...
-
ArticleHalf of employers think that staff financial wellbeing is not their responsibility
Around half (51%) of employer respondents think that staff financial wellbeing is not their responsibility, according to research by pension and investment organisation Aegon.The survey, which canvassed the views of 505 UK HR decision-makers, also found that 45% feel they would be intruding on the personal lives of their employees ...
-
ArticleHistoric Royal Palaces staff strike in pensions dispute
Staff, including Beefeaters, who work at Historic Royal Palaces (HRP) and who are members of the GMB trade union, are conducting strike action today (Tuesday 22 January 2019) in a dispute over pensions.GMB members will be undertaking the industrial action at both the Tower of London and Hampton Court Palace ...
-
ArticleAround two-thirds say contributory pension schemes are their most valued benefit
Around two-thirds (62%) of respondents state that a contributory pension scheme is one of their top five most valued benefits, according to research by global advisory and brokering organisation Willis Towers Watson.Its survey of 2,000 UK employees also found that respondents most valued health insurance (43%), life insurance (40%), critical ...
-
ArticleEXCLUSIVE: Only two-fifths of employers offer at-retirement support
EXCLUSIVE: Only around two-fifths (39%) of employers offer at-retirement support, according to research conducted by Employee Benefits and Barnett Waddingham.The Employee Benefits/Barnett Waddingham pensions research 2018, which gathered 246 responses and was published in December 2018, found that this is consistent with previous years, as 40% of respondents provided this ...
-
OpinionDarren Ryder: TPR survey shows staff are continuing to save more
Nearly 10 million people are now saving for their retirement. Thanks to the success of auto-enrolment, contributing to a workplace pension has now become the norm.Staff now expect a pension as part and parcel of their employment; meanwhile, the advertising campaign circulated by The Pensions Regulator (TPR) and the Department ...
-
Case StudiesThe benefits offered by Addison Lee
The benefits offered by Addison Lee:Pension and payFive defined contribution (DC) pension schemes, which the organisation is looking to consolidate. These include pension schemes with National Employment Savings Trust (Nest) for approximately 500 employed UK chauffeurs, and with Aegon for management. Contributions vary according to seniority: employees and team leaders ...
-
ArticleFrontier Airlines awards 53% across-the-board pay increase
US-based budget airline Frontier Airlines has ratified a new five-year collective bargaining agreement with the Air Line Pilots Association, International (Alpa), which includes an average 53% across-the-board pay increase.The new agreement, which becomes effective on 16 January 2019, and which Alpa estimates to be worth more than $1 billion (£779,315,000), ...
-
ArticleEXCLUSIVE: 57% of employers support staff at retirement using online modelling tools
EXCLUSIVE: When it comes to methods of providing at-retirement support, financial education and awareness campaigns have seen huge leaps in popularity since 2017, according to research by Employee Benefits and Barnett Waddingham.The Employee Benefits/Barnett Waddingham pensions research 2018, which canvassed the views of 246 respondents and was published in December ...
-
ArticleBradford-based accounts manager admits workplace pension offences
Bradford-based accounts manager Mansoor Nasir will be sentenced for workplace pension offences after pleading guilty to nine charges of knowingly or recklessly providing The Pensions Regulator (TPR) with information that was false or misleading.The offences, under section 80 of the Pensions Act 2004, involved workers at the Akbar chain of ...
-
ArticleGE Appliances seeks professional grandma to demonstrate products
Something for the weekend: US home products supplier GE Appliances is advertising for a professional grandma to demonstrate the cutting edge in its kitchen technology.The organisation states that it wants to celebrate non-traditional, stylish grandmas, and highlights the need for candidates who represent diversity and can help sustain cultural legacies ...
-
ArticlePension cold calling to result in enforcement action and £500,000 fine
Organisations making unwanted, unsolicited phone calls to individuals regarding their pensions could face enforcement action, including fines of up to £500,000, under legislation that comes into force today (9 January 2019).Research conducted by the Money Advice Service in October 2015 found that there might be as many as 250 million ...
-
ArticleFTSE 350 defined benefit pension deficit rises to £41bn at the end of 2018
The accounting deficit for defined benefit (DB) pension schemes at the UK’s top 350 organisations increased by 28% between the end of 2017 and the end of 2018, rising from £32 billion to £41 billion, according to research by Mercer.Its 2018 Pension risk survey, which analyses the pension deficit calculated ...
-
ArticleEXCLUSIVE: Two-fifths expect internal HR teams to provide at-retirement support
EXCLUSIVE: The largest proportion of employers (40%) place the responsibility for providing at-retirement support at their HR, benefits, reward and learning and development teams, according to research by Employee Benefits and Barnett Waddingham.However, the Employee Benefits/Barnett Waddingham pensions research 2018, which gathered 246 responses and was published in December 2018, ...
-
Case StudiesDAC Beachcroft uses financial education to encourage active investment choices
DAC Beachcroft, which has 2,230 UK-based employees, held a pensions roadshow at its Bristol office in September 2018, in conjunction with Scottish Widows. This enabled employees to book one-to-one consultations and attend a presentation on fund performance and available investment plans.Sarah Young, head of reward at DAC Beachcroft, says: “People ...
-
AnalysisHow to encourage active decision-making surrounding pension investments
Need to know: Employees can self-select their pension fund, rather than remaining invested in the default option; this can help staff better tailor investments to their personal circumstances.Financial education around available pension fund options can help employees make informed, active investment decisions.Communications should be clear, simple and feature a mix ...