All Pensions articles – Page 58
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ArticleEXCLUSIVE: 63% are aware of how GDPR legislation will impact pensions
Almost two-thirds (63%) of respondents are aware of how the General Data Protection Regulation (GDPR) legislation will impact workplace pensions according to research by Employee Benefits and Nest.Its Employee Benefits/Nest Pension research 2017, which surveyed 254 employer respondents in September 2017, also found that 32% of respondents are aware of ...
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Case StudiesScisys offers employees savings tools via workplace platform
Scisys, an IT and technology company headquartered in Chippenham, introduced a workplace savings platform, provided by Hargreaves Lansdown in April 2013. The wrap offers a range of savings and investment products to the Scisys pension scheme’s 235 members.The organisation has since seen 62% of members contributing more than the minimum ...
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AnalysisInfographic: Employees’ expected source of income in retirement
An infographic showing employees’ expected source of income in retirement.!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");Read more: What workplace savings schemes complement pension arrangements?Scisys offers employees savings tool via workplace platform
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AnalysisWhat workplace savings schemes complement pension arrangements?
Need to knowEmployers can offer a variety of workplace savings schemes to meet employees' different financial priorities.Arrangements can include individual savings accounts (Isas), share schemes and additional pension contributions.Employers should focus their retirement support for employees on how much they pay in to, and the growth of, their pension investments.Offering ...
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ArticleUniversities UK proposes closing USS pension scheme to future accrual
Universities UK (UUK), the representative organisation for UK universities, has proposed closing the Universities Superannuation Scheme (USS) to future accrual and moving members to a defined contribution (DC) arrangement in order to tackle the scheme's deficit and the rising cost of future pensions.The USS, which is one of the largest ...
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Supplier article
Video: The importance of pensions governance
This five-minute video, presented by Camilla Egginton, director of product and solutions at Nest, covers the following areas:Why is governance important?What does good governance look like?How can an employer review the governance standards of a workplace pension provider?How does an employer know what is value for money?To watch the same ...
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Supplier article
Video: Supporting good pension scheme governance
This live panel debate took place on Wednesday 30 August 2017 in association with Nest.The panel included Debbie Lovewell-Tuck, editor at Employee Benefits, Paul Budgen, director of business development at Nest, Laura Andrikopoulos, senior DC consultant at Hymans Robertson, and Will Aitken, director at Deloitte Total Reward and Benefits.Topics discussedWhat ...
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Supplier articleImproving workers’ financial wellbeing through to retirement
Over half of employers say that poor financial wellbeing has had a detrimental impact on their workers’ performance, according to The DNA of financial wellbeing report, published by Neyber in May 2017. It is therefore unsurprising that this is an issue on many employers’ minds.Auto-enrolment has certainly helped the UK ...
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ArticleStotts Tours Oldham guilty of pensions auto-enrolment non-compliance
Bus services organisation Stotts Tours Oldham and its managing director have been found guilty of failing to automatically enrol 36 employees into a workplace pension.The Greater Manchester-based organisation and its managing director Alan Stott pleaded guilty to eight counts each of wilful failure to comply with automatic-enrolment duties under the ...
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Supplier article
Blindly selecting drawdown products is putting employees at huge risk of making costly mistakes
Latest findings from the FCA indicate that since the pension changes, twice as many pension pots have moved into drawdown than annuities. The proportion of drawdown bought without advice has risen from 5% before the freedoms to 30% now, and the vast majority (94%) of people who went into drawdown ...
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ArticleFTSE 350 defined benefit pension deficit falls to £67bn
The accounting deficit for defined benefit (DB) pension schemes for the UK’s 350 largest organisations decreased from £68 billion at the end of September 2017 to £67 billion on 31 October 2017, according to research by Mercer.Its Pensions risk survey, which is based on projections and analysis of FTSE 350 ...
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ArticleBroadstone Group acquires Mitchell Consulting and 2020 Trustees
Employee benefits and pensions consultancy organisation Broadstone Group has acquired Manchester-based independent actuarial consulting business Mitchell Consulting, and independent trustee organisation 2020 Trustees.The acquisitions have increased Broadstone Group’s employee headcount to 170 staff in total, and has also expanded its regional UK network to reach across five locations. This includes ...
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Article51% of women feel financially unprepared for retirement
More than half (51%) of female employee respondents feel financially unprepared for their retirement, compared to 35% of male respondents, according to research by Close Brothers Asset Management and the Pensions and Lifetime Savings Association (PLSA).Its The lifetime savings challenge report 2017, which surveyed 1,000 employers with 200 or employees ...
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Article36% of employers think pension freedoms have impacted on how employees retire
More than a third (36%) of employer respondents think that the pension freedoms have had an impact on how employees are choosing to exit the workplace, according to research by Barnett Waddingham and Standard Life.Its survey of 58 UK employers, representing over 750,000 employees, also found that of the respondents ...
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ArticleDo not miss Employee Benefits Wired: Member engagement
Employee Benefits Wired: Member engagement, presented in association with Nest, will be broadcast live at 11am on Thursday 23rd November 2017.The expert panel discussion can be viewed for free on the Employee Benefits video channel.The online debate will provide insights which will focus on the key issues surrounding member engagement ...
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OpinionChris Curry: Employers can take a mixed approach to helping employees save for retirement
Automatic-enrolment has changed the landscape for workplace pensions in the UK, so now it is the norm for employees to be saving in a pension, with a contribution from their employer. But getting people saving is only the start; there is still plenty more that employers can do to make ...
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Case StudiesAgeas Insurance uses a range of communication methods to engage employees with pensions
Ageas Insurance's journey to boost employee engagement with its pension scheme started back in 2013. Nick Cansfield, head of reward and policy at Ageas Insurance, explains: "We'd grown through acquisitions so there were lots of different schemes in place. With auto-enrolment approaching, we decided it would be simpler to have ...
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ArticleTPR to review value for small and micro defined contribution pension schemes
The Pensions Regulator (TPR) has launched a thematic review into whether trustees of small and micro defined contribution (DC) pension schemes are properly assessing value for members.The review, which will analyse chair statements from a cross section of 100 small and micro DC schemes run by either a lay trustee ...
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AnalysisHow can employers create greater employee engagement with pensions?
Need to knowRather than focus on pensions, employers can teach concepts such as regular savings and stock market investment as part of broader financial education.An audience can be segmented by factors such as age, life stage, bonus and size of pension fund to make communications personal.Employers should ditch the jargon ...
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Article24% of divorced women are unable to save into a pension
Under a quarter (24%) of respondents who are divorced women are unable to save into a pension, compared with 12% of divorced men who are not able to save in their pension pot, according to research by Scottish Widows.Its Women and retirement report, which surveyed 5,314 UK adults in April ...