All Pensions articles – Page 62
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ArticleEAT rules in favour of firefighters’ appeal in pensions age discrimination case
The Employment Appeal Tribunal (EAT) has ruled in favour of firefighters who appealed an Employment Tribunal (ET) decision which found that a government move to justify changes to firefighters’ pension arrangements was not age discriminatory.The case, Ms R Sargeant and others v London Fire and Emergency Planning Authority and others, ...
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Article68% see increase in stress and mental health-related illnesses in the workplace
More than two-thirds (68%) of employer respondents have seen an increase in instances of stress and mental health-related illnesses in the workplace, according to research by Aon.Its Benefits and trends survey: January 2018, which surveyed 200 UK employers, also found that 41% of respondents are unaware of the implications of ...
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ArticleTPR takes ITV to the Upper Tribunal in pensions anti-avoidance case
The Pensions Regulator (TPR) and television broadcasting organisation ITV are appearing at the Upper Tribunal this week to begin the hearing for its long-running pensions anti-avoidance dispute.The hearing, ITV and others v The Pensions Regulator, commenced on Monday 29 January 2018 at The Rolls Building, London, and is expected to ...
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ArticleDWP publishes response to Nest policy amendment consultation
The Department for Work and Pensions (DWP) has published its response to a consultation exploring proposed amendments to the National Employment Saving Trust (Nest) policy framework.Published in March 2017, the call for evidence highlighted the government’s intention to amend the Nest Order so that participating employers can contractually enrol their ...
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Article45% have not made financial calculations to understand their retirement needs
More than two-fifths (45%) of UK-based employee respondents have not made any financial calculations to understand their retirement needs, according to research by Mercer.Its Healthy, wealthy and work-wise report, which surveyed 7,000 adults and 600 senior decision makers from private and public sector organisations based across 12 countries in seven ...
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OpinionHelen Ball: What do employers need to consider regarding master trust authorisation?
Employers which currently use, or are thinking of using, a master trust to provide pensions for their employees could be affected by an upcoming change in the law.From October, existing master trusts will need to apply for authorisation from The Pensions Regulator or, if not, wind up and transfer members ...
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ArticleFord Motor Company to speak at Employee Benefits Connect 2018
Delegates attending Employee Benefits Connect 2018 will be able to a unique insight into the surprising similarities between cars and pensions as Ford Motor Company joins the event's roster of industry-leading speakers.Oliver Payne, Europe, Middle East and Africa (EMEA) pensions manager and actuary at Ford Motor Company will present a ...
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ArticleSavers access £15.7bn through pension freedoms
Retirement savers have accessed approximately £15.7 billion through the pension freedoms since the pension reforms were introduced in April 2015, according to data from HM Revenue and Customs (HMRC).Its Flexible payments from pensions: January 2018 report also found that the number of individuals who have received flexible payments from their ...
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Article
Infographic: How financially confident male and female employees are about retirement savings
Employees who feel financially unprepared for retirement:Women - 51%Men - 35%Employees who do not have enough salary and benefits to save:Women - 42%Men - 27%Employees who feel well prepared for retirement:Women - 23%Men - 36%Employees who are confident about choosing the right financial product:Women - 36%Men - 45%Employees who have ...
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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 ...