All Pensions articles – Page 46

  • Philip-Hammond-and-red-book
    Article

    Government to provide £5m additional funding to make pensions dashboard a reality

    2018-10-30T10:41:55Z

    Autumn Budget 2018: The government will provide an additional £5 million in funding in 2019-2020 to help bring the pensions dashboard to fruition.Chancellor Philip Hammond (pictured) confirmed in his Autumn Budget 2018 speech, delivered on Monday 29 October, that the Department for Work and Pensions (DWP) will consult later this ...

  • pensions versus other investments
    Analysis

    Pensions versus other workplace investments: what are employees' options?

    2018-10-30T06:00:40Z

    Need to know:Pensions are still viewed as the primary workplace savings vehicle for employees, but other tools include the corporate Individual savings account (Isa) or the Lifetime individual savings account (Lisa).The Pension Freedoms Act has made pensions more accessible and potentially more desirable as a savings vehicle, but employees may ...

  • Mott MacDonald
    Case Studies

    Mott MacDonald offers range of financial benefits to help employees save

    2018-10-30T06:00:34Z

    The Mott MacDonald Group is a global engineering, management and development consultancy with 16,000 employees across 150 countries, and a headquarters in the UK. It is one of the largest employee-owned organisations in the world.Mott MacDonald has a defined contribution (DC) pension scheme for all UK staff; this is a ...

  • Jane Fuller
    Opinion

    Jane Fuller: Does the pensions system provide enough incentives for long-term saving?

    2018-10-29T16:00:09Z

    Before starting to think about incentives to save into the pensions system, it must be remembered that the UK state pension is far from generous. At £164.35 a week, the new single-tier pension is little more than half a week’s income on the national living wage rate of £7.83 an ...

  • Lloyds Banking Group
    Article

    Lloyds Banking Group ordered to equalise pensions for men and women

    2018-10-29T11:43:39Z

    The High Court has ruled that Lloyds Banking Group must equalise its guaranteed minimum pensions (GMP) for men and women, in a landmark judgment that could cost major pension schemes £15 billion.The case relates to GMP schemes that ran between 1990 and 1997 for members who contracted out of the ...

  • sentencing
    Article

    Workchain staff fined and sentenced for illegal pension opt-outs

    2018-10-29T11:00:07Z

    Directors and senior staff at Derby-based recruitment organisation Workchain have received suspended prison sentences, and have been ordered to pay more than £280,000 in fines for plotting to illegally opt workers out of their pension scheme.Owners and directors Phil Tong and Adam Hinkley encouraged five senior Workchain staff members to ...

  • pension scam
    Article

    TPR bans masterminds of £13.7m pension scam from being trustees

    2018-10-23T15:35:10Z

    The individuals identified as the masterminds behind a £13.7 million pension scam have been banned from being trustees of pension schemes.David Austin, Susan Dalton, Alan Barratt and Julian Hanson ran a scam that cheated 245 people out of their pension savings after the members were persuaded to transfer funds into ...

  • Carlsberg
    Case Studies

    Carlsberg uses staff feedback to gauge success of financial wellbeing strategy

    2018-10-23T05:00:52Z

    Brewery giant Carlsberg launched a proactive financial wellbeing programme in January 2018 for its 700 UK employees, ranging from head office staff, brewery production, sales teams and contact centres.Activities within the programme include on-site mortgage sessions and one-to-one independent mortgage advice, pension presentations, access to payroll loans, a home rental ...

  • Kavitha-Siva
    Article

    Kavitha Sivasubramaniam: Championing financial wellbeing at work

    2018-10-22T05:00:24Z

    As our Financial Wellbeing Week, in association with Wealth at Work, draws to a close, it is time to reflect on some of the trends and issues currently shaping this area of the benefits market.Many employers recognise that financial stress can have a significant impact on an individual’s mental and ...

  • Jonathan Watts-Lay
    Opinion

    Jonathan Watts-Lay: Ensuring the savings effort pays off

    2018-10-22T05:00:07Z

    Nearly half (46%) of all UK adults rate their own knowledge about financial matters as low and almost a quarter (24%) have little or no confidence in managing their money, according to the Financial Conduct Authority's Understanding the financial lives of UK adults report, published in October 2017.The impact of ...

  • joint strategy
    Article

    FCA and TPR launch joint strategy to tackle 'fundamental' pensions challenges

    2018-10-19T08:56:20Z

    The Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) have launched a joint regulatory strategy, identifying issues contributing to inadequate saving for retirement and outlining priorities for addressing fundamental challenges in the pensions sector.The joint strategy sets out how the FCA and TPR will work in tandem in the ...

  • pension communications
    Article

    Positive, personal language is best for pension communications

    2018-10-19T08:47:14Z

    A study by investment management organisation Invesco into the language of defined contribution (DC) pension schemes has identified four key language principles for communicating with employees about their pensions.Research for the report, ReDefined contribution schemes, published on 18 October 2018, included interviews with heads of pension schemes, focus groups and ...

  • arrows
    Supplier article

    Are defaults at-retirement really in members best interest?

    2018-10-18T14:32:19Z

    By Jonathan Watts-Lay, Director, WEALTH at workI find the idea of defaulting members into something without a positive choice being made extremely worrying for a number of reasons.Firstly, it raises questions over if it is actually within the providers or the member’s best interest? Because if the default is with ...

  • flexible reward
    Article

    Four in 10 UK employees want a flexible reward package

    2018-10-18T08:46:11Z

    More than four in 10 (43%) UK workers want a flexible reward package and the ability to control their benefits, according to research carried out by payroll and HR service provider SD Worx.The survey of employees in the UK, Austria, Belgium, France and the Netherlands, sampling 500 workers in each ...

  • NASUWT
    Article

    NASUWT staff begin series of one-day strikes over pay and pensions

    2018-10-17T09:59:12Z

    Image credit: GMBAround 140 employees of the NASUWT teaching union are staging a series of three one-day strikes over pay and changes to pensions.The industrial action, which starts today, is being taken by members of the GMB union, with further strikes planned for 5 November and 9 November.GMB regional organiser ...

  • aon-db
    Supplier article

    Aon’s Global Defined Contribution Points of View August 2018

    2018-10-17T07:21:00Z

    Around the globe, Aon is helping our clients tackle the challenges that come with the growing reliance on defined contribution savings. We are happy to share our findings with you. Download the report here »

  • master trust
    Article

    Three-quarters support pension tax relief changes if they help lower income employees

    2018-10-16T08:28:28Z

    Three-quarters (75%) of employers would support changes to the pensions tax relief system if this would provide more help to lower income employees, according to research conducted by the Association of Consulting Actuaries (ACA).Its 2018 Pensions trends survey, which polled 349 employers, also found that 59% of respondents believe the ...

  • Rachel Pinto
    Opinion

    Rachel Pinto: CJEU rules that UK's pension compensation regime is inadequate

    2018-10-15T14:00:54Z

    The Court of Justice of the European Union (CJEU) ruled in Hampshire v The Board of the PPF that under EU law, on an employer's insolvency, every employee must receive compensation corresponding to at least 50% of the value of their accrued pension entitlement under an occupational pension scheme. This ...

  • Supplier article

    The Future of At Retirement July 2018

    2018-10-15T07:19:00Z

    In this paper, we are not asking whether retirement itself is an outdated concept that needs to be retired – a subject deserving of a paper in itself. Rather we are discussing here what is happening now, and needs to happen in the near and medium term, in the ‘at ...

  • Pension-draw
    Article

    Two-thirds of UK employees want employers to help them plan for retirement

    2018-10-12T09:57:23Z

    Around two-thirds (64%) of UK employees, and 51% of staff approaching retirement, want their employer to help them plan for retirement, according to research by financial services organisation State Street Global Advisors (SSGA).Its Global retirement reality report 2018, which surveyed 9,451 individuals across eight countries, including 1,603 people in the ...