All Pensions articles – Page 56
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ArticleCrest Healthcare to be prosecuted for auto-enrolment non-compliance
The Pensions Regulator (TPR) is to prosecute healthcare organisation Crest Healthcare and its managing director for failing to automatically enrol its employees into a workplace pension scheme.The Birmingham-based organisation and its managing director Shelia Aluko have been summoned to appear at Brighton Magistrates’ Court on 22 December 2017 to each ...
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ArticleMerchant Navy Officers Pension Fund completes £490m pensions buy-in
The Merchant Navy Officers Pension Fund (MNOPF) has completed a £490 million pensions buy-in transaction.The buy-in transaction, which was completed with Legal and General, will cover all MNOPF’s retirees since 2014, to ensure that pension benefits for retired members are hedged against longevity risk.The buy-in transaction is the latest de-risking ...
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OpinionNick Lawry: What does 2018 hold for employee benefits?
Pensions will continue to be a hot topic as auto-enrolment fully bites. So how will employers tackle the inherent conflict of trying to engage employees to save for retirement to prevent a high opt-out rate as auto-escalation kicks in, while trying to manage a benefits budget that will not automatically ...
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OpinionAnt Donaldson: What does 2018 hold for employee benefits?
Every year seems to bring new challenges, so what should we be looking out for in 2018?As always, changing regulations are a key theme. Despite a quiet Budget, the headline change is the increase in minimum pensions auto-enrolment contributions to 5% from April, including 3% from employees, with a further ...
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Article86% cite pay as the most important aspect of their job
More than four-fifths (86%) of respondents cite pay as the most important aspect of their job, according to research by Paymentsense.Its survey of 2,000 UK participants also found that 79% of respondents feel that having 20 or more holiday days is most important when it comes to their job.The research ...
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ArticleBritish Airways to introduce new defined contribution pension scheme
British Airways (BA) is to introduce a new defined contribution (DC) pension scheme as part of a new flexible benefits package for staff.The new pension scheme, which is due to open on 1 April 2018, will replace the airline’s existing defined benefit (DB) scheme, the New Airways Pension Scheme (Naps), ...
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ArticlePunter Southall Group businesses to merge with Xafinity
UK pensions actuarial, consulting and administration organisation Xafinity is to acquire Punter Southall Group’s actuarial, investment consulting and administration businesses.The proposed merger will see Xafinity acquire Punter Southall, Punter Southall Investment Consulting and Punter Southall Administration for a combination of cash and shares, predicted to total around £153 million. The ...
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Supplier article
Employee Benefits Wired: Supporting good governance on demand
Employee Benefits Wired: Supporting good governance took place at 11am on 30 August 2017, in association with Nest.Topics discussed included why good governance is important, what this looks like, how employers can be sure a master trust is delivering good governance, how frequently schemes should review pensions governance policies and ...
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Supplier article
Employee Benefits Wired on demand: Member engagement
Employee Benefits Wired: Member engagement, presented in association with Nest, was broadcast live on Thursday 23 November 2017.The interactive online debate provided insights into the key issues surrounding member engagement with workplace pensions and the steps employers could take to ensure the best outcome for members.Topics that were discussed included:How ...
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Supplier article
Top five considerations before employees cash in their pension
Over half (53%) of retirees who accessed their defined contribution (DC) pensions chose to withdraw their entire pension pots, according to the Financial Conduct Authority’s (FCA) interim findings of its ‘Retirement Outcomes Review’.Of these fully withdrawn pensions, 52% had been transferred into other savings or investments, thereby losing the valuable ...
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Article36% say workplace pensions are the most valuable employee benefit
Just over a third (36%) of employer respondents say that workplace pensions are the most valued employee benefit, according to research by Hargreaves Lansdown.Its Workplace benefits: the employer view report, which surveyed 349 UK employers, also found that 15% who rank private medical insurance as the most valuable, while 12% ...
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ArticleBritish Airways suspends pension transfer values for active members
British Airways (BA) has temporarily suspended the provision of transfer values to all its active British Airways Pensions members.The suspension will apply to active members of the airline's defined benefit (DB) New Airways Pension Scheme (Naps) and the Airways Pension Scheme (Aps), unless the transfer values are being requested for ...
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ArticleGovernment launches consultation on the authorisation and supervision of master trusts
The Department for Work and Pensions (DWP) has launched a consultation on the draft regulations and policies for the authorisation process and supervisory regime for master trust pension schemes.The consultation, which will run until 12 January 2018, is seeking views on proposed draft regulations that will introduce an authorisation and ...
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OpinionNigel Peaple: Employers need to support employees with pension choices
Automatic-enrolment has been extremely successful and there are now 13.5 million people who are active members of a pension scheme, according to the Office for National Statistics' (ONS) Occupational pension scheme survey, published in September 2017. This means that employers are making a substantial contribution to many workers' retirement aspirations. ...
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Article43% want flexible working as part of their benefits package
More than two-fifths (43%) of employee respondents want access to flexible working arrangements as part of their employee benefits package, according to research by Hibob.Its Part two: powerful perks: what people really want report, which surveyed 501 UK employers and 4,001 UK employees, also found that 41% of employee respondents ...
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ArticleFirst Group consolidates Local Government Pension Scheme assets to create £1bn fund
Transportation organisation First Group has consolidated its pension scheme assets across three Local Government Pension Scheme (LGPS) arrangements to create a £1 billion fund.The organisation will consolidate its pension schemes’ assets by transferring £700 million from the West Yorkshire LGPS and the South Yorkshire LGPS into the Greater Manchester Pension ...
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ArticleGovernment launches inquiry into collective defined contribution schemes
The Work and Pension Committee has launched an inquiry into the possibility of introducing collective defined contribution (DC) pension schemes to the UK pensions market.The inquiry, which is accepting written feedback from interested parties up to 8 January 2018, will investigate whether collective DC arrangements can benefit UK savers and ...
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Video
Employee Benefits Wired on demand: Member engagement
Employee Benefits Wired: Member engagement, presented in association with Nest, was broadcast live on Thursday 23 November 2017.The interactive online debate provided insights into the key issues surrounding member engagement with workplace pensions and the steps employers could take to ensure the best outcome for members.Topics that were discussed included:How ...
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OpinionNigel Shepherd: Pensions are an important consideration in divorce proceedings
We all know that divorce is sadly part of modern life. Although the overall trend recently has been a reduction since a high in 2003-2004, just over 40% of marriages still break down, according to the Office for National Statistics' (ONS) 2016 figures. But what are the financial consequences of ...
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ArticleLovewell's logic - The Autumn Budget: a welcome respite from pensions change or a missed opportunity?
For a number of years now, barely a Budget has gone by without an announcement that has resulted in further changes impacting the provision of workplace pensions.It was unsurprising, therefore, that in the lead up to the first ever Autumn Budget on Wednesday 23 November, there was much speculation about ...