All Pensions articles – Page 53
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ArticleUnited Utilities employees strike in dispute over pensions
Employees at water service organisation United Utilities who are members of Prospect, Unison and Unite trade unions are undertaking two days of strike action in a dispute over pensions.Approximately 1,500 employees will take part in the industrial action, which is taking place today (Friday 16 March 2018) and on Monday ...
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Double whammy of lack of retirement savings and low support at-retirement
WEALTH at work, a leading provider of financial education, guidance and advice in the workplace recently conducted a survey amongst employers. It investigated what workplace support is available to help employees understand how to make the most of their finances throughout their career in order to optimise income at-retirement. It ...
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Case StudiesThe benefits offered by Kier Group
The workplace benefits offered by Kier GroupPension and financial benefitsA defined contribution (DC) master trust open to all employees, with matching contributions up to 7.5%.Sharesave and share incentive plan (Sip) open to all employees.Financial education.Healthcare and wellbeingPrivate medical insurance dependent on grade.Eyecare: employees can claim back the cost of an ...
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Case StudiesKier Group develops reward and benefits in line with business growth
Having gone through a period of considerable change in the last five years, construction, property and services organisation, Kier Group aims to be as flexible as possible with its reward and benefits offering.The organisation has developed from regionalised construction businesses to a national business, which has included the acquisition of ...
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Five tips to help employees put a retirement plan together
Many employees struggle to put a retirement plan together as they often think that retirement is too far away. But the value of well thought out planning from early on should not be underestimated and more should be done to help employees with this.Jonathan Watts-Lay, Director, WEALTH at work, a ...
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Article50% will use workplace pension for retirement income
Half (50%) of respondents who are approaching retirement in the next 10 years plan to use their workplace pension for their retirement income, according to research by Age Partnership.Its Is the UK retirement ready? report, which surveyed 2,000 UK adults who are either retired, approaching retirement in the next 10 ...
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Protecting defined benefit members from the pension vultures
WEALTH at work, a leading provider of financial education, guidance and advice in the workplace is calling for more to be done to protect defined benefit members from the risks around pension transfers.In 2017 defined benefit (DB) pensions hit the headlines and failures involving BHS, British Steel and Carillion brought ...
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ArticleJohn Lewis Partnership to give 5% bonus to staff
The John Lewis Partnership is to pay 85,500 employees across John Lewis and Waitrose a bonus worth 5% of their salary, totalling £74 million.The bonuses have been awarded after the organisation announced its profit before tax, bonuses and exceptional payments of £289.2 million in the year ending 27 January 2018. ...
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ArticleCrest Healthcare pleads guilty to auto-enrolment non-compliance
Crest Healthcare and its managing director, Sheila Aluko, have pleaded guilty to not complying with auto-enrolment duties and to providing false information to The Pensions Regulator (TPR) about a workplace pension scheme.The healthcare organisation and Aluko each pleaded guilty to one charge of knowingly or recklessly providing false or misleading ...
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Workplace Pensions Report 2017
Distributed recently with The Times, the Workplace Pensions Report examines the ways in which changing regulation has and will influence the pensions landscape highlighting some of the decisions facing employers and members. Download a free copy of the publication in which Aon encourages businesses to take a fresh look at ...
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Article12% regret not being more engaged with their pension savings
More than one in 10 (12%) of respondents regret not being more engaged with their pension savings, wishing they had either joined their workplace pension scheme or moved out of their pension scheme’s default fund, according to research by Aegon.Its survey of 824 adults also found that 14% of retired ...
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ArticleThe Post Office completes £450m pensions buy-in
The Post Office has completed a £450 million bulk annuity buy-in transaction for its section of the Royal Mail Pension Plan.The buy-in transaction, completed with Rothesay Life, will cover the scheme’s deferred members and includes all benefits accrued since the Royal Mail Pension Plan started in 2012.The pension scheme’s trustees ...
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ArticleCourt of Appeal rules in favour of Air Products in long-term incentive plan age discrimination case
The Court of Appeal has allowed an appeal by industrial gas and chemical retailer Air Products, finding that the organisation can objectively justify retirement at a specific age as a good leaver reason within its long-term incentive plan.The case, Air Products v Cockram, regards employee Michael Cockram, who resigned from ...
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AnalysisIs there a need for better targeted pensions education for female employees?
Need to know:Research published by Aon in 2016 indicates that women have lower levels of financial confidence than men. This has a domino effect on how they then make decisions around saving for retirement.A pensions education programme that discusses retirement savings in relation to taking time away from work to ...
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OpinionJames Walsh: UK should take a leaf out of Australia's book to increase pensions understanding
The pensions sector needs to think afresh about how best to communicate with savers, especially women. A Pensions and Lifetime Savings Association (PLSA) survey, published in May 2017, showed that millennial women feel more financially anxious than their male peers. If even this group, which has the smallest male-female pay ...
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Case StudiesHays addresses gender pay differences as part of pensions education
Recruitment organisation Hays has run pensions education presentations for its 3,200 UK employees to ensure that staff understand the basic concepts of how their workplace pension works.Improving employees’ fundamental knowledge of pensions can help them to pinpoint wider issues that may impact their retirement savings, for example, the potential impact ...
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ArticleFTSE 350 defined benefit pension deficit falls to £72bn
The accounting deficit for defined benefit (DB) pension schemes at the UK’s top 350 organisations has decreased by £1 billion, from £73 billion at the end of January 2018 to £72 billion at the end of February 2018, according to research by Mercer.Its research, which analyses pension deficits calculated using ...
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Supplier article
Now is the time for a fresh look at company pensions
As the pensions industry continues to come to terms with enormous changes over the last five years, business leaders are looking again at the defined contribution pension arrangements they’re offering employees. Read our article, first published in the Workplace Pensions Report, distributed with The Times.Download the article here
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OpinionLovewell's logic: Is your workforce fit for the future?
What does the future workforce look like in your organisation?Is it likely to be more diverse than ever, with up to five generations now present in many workforces? Is it likely to include more millennials than ever, with the new expectations that they bring? Or will it comprise older employees ...
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AnalysisWhat can the UK learn from European benefits reforms?
Need to know:Some European countries, such as the Czech Republic and Spain, have increased paternity leave to reinforce a focus on gender equal family-friendly policies.Poland and Turkey are among the latest European countries to implement pensions auto-enrolment initiatives to help combat the financial implications of an ageing population.Larger organisations may ...