All Pensions articles – Page 55
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ArticleHigh Court rules BT cannot change index used to calculate future pension increases
The High Court has ruled that telecommunications organisation BT cannot change the index it uses to calculate pension increases for its defined benefit (DB) scheme.BT went to the High Court in December 2017 to seek a decision on whether it could change the index it uses to calculate pension increases ...
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Article56% of UK employees look for a competitive salary from their employer
More than half (56%) of respondents based in the UK look for a competitive salary from their employer, compared to 46% of US respondents, according to research by Jobbio.Its Happiness index report, which surveyed 2,000 UK employees and 2,000 US employees, also found that 47% of UK respondents state that ...
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OpinionLovewell's logic: Will Carillion result in long-term pensions change?
Since support services firm Carillion collapsed earlier this week, a number of questions have been raised about the organisation’s remuneration and pension arrangements.Numerous news reports have told of employees fearing the non-payment of salary owed, while the organisation’s pension arrangements have transferred to the Pension Protection Fund (PPF).At the time ...
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Supplier article
WEALTH at work launches telephone-based retirement guidance service
WEALTH at work has launched a telephone based guidance service to offer support to employees and pension scheme members facing life changing decisions about their pensions and lifetime savings.The new service has been developed in recognition of the demand on employers and trustees to support employees and members with the ...
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Supplier article
Top 10 considerations for employees who are retiring in 2018
The New Year is the perfect time to take stock of our finances. Employees who are facing retirement and have a defined contribution (DC) pension will have a number of decisions to make given the freedom and flexibilities.To help with this, WEALTH at work, a leading provider of financial education, ...
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Article2018 retirees expect an average annual income of £19,900
Employees planning to retire in 2018 are expected to receive an average annual income of £19,900, according to research by Prudential.Its Class of 2018 report, which surveyed 9,896 non-retired UK adults aged 45 or more, including 1,000 UK adults who plan to retire this year, also found that employees planning ...
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ArticleDominic Chappell convicted of withholding information from TPR on BHS
Dominic Chappell, the majority shareholder of Retail Acquisitions, the organisation that bought BHS for £1, has been found guilty of failing to provide information to The Pensions Regulator (TPR) during the sale of the British retail organisation.Under section 72 of the Pensions Act 2004, Chappell was legally obliged to provide ...
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AnalysisInfographic: What generation is most likely to select their own pension investment fund?
An infographic showing how many employees from different generations have selected their own investment fund rather than stayed in their pension scheme’s default fund.!function(e,t,s,i){var n="InfogramEmbeds",o=e.getElementsByTagName("script"),d=o[0],r=/^http:/.test(e.location)?"http:":"https:";if(/^\/{2}/.test(i)&&(i=r+i),window[n]&&window[n].initialized)window[n].process&&window[n].process();else if(!e.getElementById(s)){var a=e.createElement("script");a.async=1,a.id=s,a.src=i,d.parentNode.insertBefore(a,d)}}(document,0,"infogram-async","https://e.infogram.com/js/dist/embed-loader-min.js");
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OpinionLouise Farrand: Pension investment costs are worth the price tag to assist retirement outcomes
The future is defined contribution (DC). As defined benefit (DB) schemes close, over eight million people are now saving into defined contribution (DC) schemes because of auto-enrolment, according to the Pensions Regulator’s Declaration of compliance report, published in July 2017.Two factors particularly affect DC savers’ retirement outcomes: contribution rates and ...
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Case StudiesMotability uses face-to-face briefings to educate employees on pension investments
Harlow-based mobility charity Motability uses annual face-to-face briefing sessions to educate its 119 employees on pensions topics, including available pension investment options.Currently, employees have the opportunity to self-select their own pension investment fund away from the default option out of 57 available fund options.The voluntary briefing sessions, led by the ...
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AnalysisHow can employers help employees understand pension investments?
Need to know:Employers can offer a variety of fund choices through their pension scheme that can include high-risk and low-risk options for employees.Employees can use an online risk profiler tool to ascertain their appetite for risk, which can inform their investment strategy to ensure it suits their needs.Financial education can ...
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ArticleEsther McVey appointed secretary of state for work and pensions
Conservative member of Parliament (MP) Esther McVey has been appointed as the new secretary of state for work and pensions.McVey, who has been the MP for Tatton since June 2017, commenced her new role in January 2018 after the former minister, David Gauke, was appointed the secretary of state for ...
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ArticleBT employees accept pay and pensions deal
BT employees who are members of the Prospect trade union have voted to accept a new pay and pensions deal.The agreed deal offers employees being moved from the organisation’s defined benefit (DB) pension scheme, the BTPS, to its defined contribution (DC) scheme, the BTRSS, a transitional payment. Furthermore, employer contributions ...
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ArticleSimplyhealth revamps benefits and reward proposition
Health cash plan provider Simplyhealth has revamped its benefits and reward proposition for its 1,300 UK-based employees, including enhancing the organisation’s defined contribution (DC) pension scheme, introducing financial education and launching a flexible benefits personal spending account.The changes to the organisation’s benefits offering, which were collectively effective from 1 January ...
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OpinionHelen Ball: Not all master trust pension schemes are going to opt for authorisation
Since 2012, when employers began automatically enrolling employees into pension schemes, the master trust market has exploded in size and popularity. Membership of master trusts has grown from around 0.2 million in 2010 to around 7.1 million by 2016, according to The Pensions Regulator's annual DC trust: presentation of scheme ...
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ArticleFTSE 100 defined benefit (DB) pension funding liabilities rise to £705 billion
The funding liabilities for FTSE 100 defined benefit (DB) pension schemes in the UK have risen to £705 billion at the end of December 2017 from £460 billion at the end of September 2017, according to research by JLT Employee Benefits.JLT’s The FTSE 100 and their pension disclosures report, based ...
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ArticleAuto-enrolment review confirms age criteria to be lowered to 18
The Department for Work and Pensions (DWP) has confirmed that the lower age criteria at which employers are required to auto-enrol employees into a workplace pension is to be reduced from 22-years-old to 18-years-old.The recommendation forms part of the DWP’s Automatic-enrolment review 2017: maintaining the momentum report, published today (Monday ...
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ArticlePoll: 50% think collective DC pensions schemes are not a suitable DB replacement
Employee Benefits poll: Half (50%) of respondents think that collective defined contribution (DC) pension schemes are not a suitable replacement for defined benefit (DB) arrangements.A straw poll of www.employeebenefits.co.uk readers, which received 26 responses, also found that 27% of respondents believe that collective DC schemes can work as a replacement ...
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ArticlePirelli completes £100m pensions buy-in
Tyre production and technology organisation Pirelli has completed a £100 million pensions buy-in transaction for three of its defined benefit (DB) pension schemes.The full scheme buy-in transaction is designed to secure the pension benefits for current employee members and retirees of the Pirelli General Executive Pension and Life Assurance Fund, ...
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Supplier articleHow to kick-start your financial wellness programme
Neil Atkinson, Head of Pensions at Thomsons, share his insights on how to understand the financial challenges your employees are facing, and the most innovative ways to support them with their financial wellness.#benefitsexpertsClick here to watch the two-minute video now.