All Pensions articles – Page 5
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ArticleBirmingham Chamber of Commerce completes £9 million pension buy-in
Birmingham Chamber of Commerce, which supports local businesses, has completed a £9 million pension buy-in.The transaction, which was brokered by financial services consultancy Quantum Advisory, which was also the scheme actuary and lead transaction and investment adviser, will provide improved benefit security to around 100 pensioners and 40 deferred members.The ...
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Case StudiesHays addresses the gender pensions gap
Passionate about financial wellbeing, global recruitment firm Hays provides employees with back-to-basics roadshows and webinars to explain pensions terminology in a more straightforward way in order to combat the gender pensions gap.It has offices in 33 countries and 13,000 employees across the world. Of these, 3,500 are based in the ...
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AnalysisWhat actions can employers take to close the gender pensions gap?
More employers could introduce gender inclusive paid parental leave to prevent and try to close gender pension gaps.The Pensions (Extension of Automatic-Enrolment) (No. 2) Bill will remove the lower earnings limit, enabling more employees to pay into a pension.In order to help close the pensions participation gap, more education on ...
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OpinionLovewell's logic: Are employees destined for a meagre retirement?
How to encourage employees to save enough for retirement is an age-old conundrum. For those of us working in this industry, the reasons to do so are clear. However, for employees without an in-depth knowledge of the pensions system, the time until they reach retirement may mean saving for this ...
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ArticleAverage woman saves £136,000 less than the average man for retirement
By the time the average woman reaches the retirement age of 67, she will have saved a pension pot worth £69,000, which is £136,000 less than the average man, who will have saved £205,000 in the same period, according to research by Now: Pensions.Its 2024 gender pension gap report, published ...
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ArticleSacker and Partners becomes living pension employer
Pensions law firm Sacker and Partners has become a living pension employer.The living pension accreditation, which was launched in March 2023, is a voluntary savings target for employers and aims to support lower-paid employees who are not saving enough into their pension pots each year to prevent poverty and meet ...
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ArticleDWP publishes updated occupational pension schemes regulations
The Department of Work and Pensions (DWP) has published the final version of the Occupational Pension Schemes (Funding and Investment Strategy and Amendment) Regulations 2024 and a consultation response.It has outlined what is required of defined benefit (DB) pension schemes in funding, investment strategy revisions are clearer on the flexibilities ...
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Supplier articleHow flexible working hours, competitive pension benefits, and mental wellbeing support can engage the Gen Z workforce
The Five Benefits That Gen Z Want in the Workplace Gen Z will comprise a third of the workforce within the next few years. So what benefits must companies adopt in order to attract and retain this new generation of talented employees? Born after 1995, Gen Z ...
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Article69% of employees do not want to choose workplace pension provider
More than two-thirds (69%) of employees do not want to choose their workplace pension provider and would rather their employer make the choice, according to new research from the Pensions and Lifetime Savings Association (PLSA).Following the government’s announcement of a lifetime provider model for workplace pensions, where employees can choose ...
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OpinionEmily Whitelock: Pots-for-life plan could pose risk to employee pension engagement
While automatic-enrolment has resulted in more individuals saving for retirement, it has created a separate issue that the Department for Work and Pensions (DWP) describes as 'the proliferation of small pots': the creation of multiple deferred pension pots, often low in value, when employees change employer. Lack of engagement with ...
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AnalysisWhat does the government's pots-for-life plan mean for employers?
Credit: P Maxwell Photography/Shutterstock The pension pots-for-life plan takes the onus off of employees to keep track of their pensions as they move jobs. Clarification is needed on how employers would manage the process of putting employees’ contributions into many different pension pots. Pots for life ...
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ArticleOffice Depot UK completes £140 million pensions buy-in
Office supplies firm Office Depot UK has completed a £140 million bulk purchase annuity buy-in transaction with the trustee of the Guilbert UK Retirement Benefits Plan, of which it is the sponsor.Aviva insured the plan liabilities to remove the investment and longevity risk for around 1,500 plan members, who will ...
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Supplier articleIreland auto enrollment
Next January, all going well, approximately 750,000 workers in Ireland will start being automatically enrolled into a new workplace pension scheme that will be co-funded by their employers and the State.The scheme is aimed at addressing the national pension coverage gap. It’s estimated that just 56% of the working population ...
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OpinionNaomi Brown: Do workplace pension schemes fully cater for 2024 family life?
There is no denying it. It is almost 2024. Families of all shapes and sizes are preparing for a joyful festive season with their loved ones.But as I look at all the wonderful families around me, families whose ideas of what 'family' means left the 1950s behind long ago, part ...
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ArticleBP Pensioner Group takes legal action in pensions value dispute
The BP Pensioner Group has begun legal action against senior members of BP management and directors of the BP pension fund trustee due to concerns around the value of 2,500 members’ pensions.According to the BP Pensioner Group, the dispute is about decisions made by BP and the pension fund trustee ...
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ArticleOne-third think the pension pot for life will help employees manage their pension
Employee Benefits poll: Just one-third (33%) of organisations think the pension pot for life plans announced in November's Autumn Statement by Chancellor Jeremy Hunt will help employees to manage their pension, according to a survey of Employee Benefits readers.Two-fifths (40%) said they do not think the pension pot for life ...
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OpinionRichard Knight and Amy Davies: Responses to Mansion House reforms in Autumn Statement
The Autumn Statement from Chancellor Jeremy Hunt included well-trailed measures that show the government has listened to the industry’s responses to the Mansion House reforms. There are a number of details that must be worked through, in particular for the reduction in small defined contribution (DC) pots.Following its call for ...
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Article66% of full-time UK staff think contributory pensions are important
Two-thirds (66%) of full-time UK employees regard contributory pensions and savings as important, according to research by Employee Benefits Isle of Man.Its 2023 Non-salary benefits global survey, which polled more than 2,000 full time UK and expat workers in Singapore, Hong Kong, the United Arab Emirates (UAE) and South Africa, ...
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ArticleAskews and Holt Library Services completes £11m pensions buy-in
Askews and Holt Library Services has completed an £11 million pensions buy-in deal.The transaction with Legal and General, which was made possible by a discretionary one-off contribution from the employer, covers 64 pensioners and 22 deferred members. The scheme will now proceed to a full buy-in and wind up.Broadstone provided ...
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Article53% of employers do not think the living pension meets basic retirement needs
Employee Benefits poll: More than half (53%) of organisations do not think the living pension goes far enough to support employees in building a pension pot that meets basic retirement needs, according to a survey of Employee Benefits readers.One-third (33%) said they did think the living pension goes far enough ...