All Pensions articles – Page 62

  • pension-jar-and-clock
    Article

    Defined benefit pension funding deficit rises to £460bn

    2017-09-01T10:06:51Z

    The funding deficit for defined benefit (DB) pension schemes in the UK was £460 billion at the end of August 2017, according to research by PricewaterhouseCoopers (PWC).Its Skyval index, which is based on data relating to 5,800 DB pension funds and collected through the Skyval pensions platform used by trustees, ...

  • Ian McKenna
    Opinion

    Ian McKenna: Advanced tools can help employees get more value out of their pension

    2017-08-30T14:00:48Z

    Over the next 18 months employers that only started providing workplace pensions when this became a legal requirement under auto-enrolment will see the cost of their contributions triple. From April 2018, the current 1% employer contribution doubles to 2, and then increases to 3% 12 months later. Also, employees will ...

  • EB-WIRED-LOGO-RGB
    Video

    Employee Benefits Wired: Supporting good governance

    2017-08-25T14:34:46Z

    Employee Benefits Wired: Supporting good governance will take place at 11am on 30 August 2017, in association with Nest.Key themes to be covered during this discussion include:What is good governance?Why is good governance important?How can you be sure a master trust is delivering good governance?What does good governance 2.0 look ...

  • Yvonne-Braun-ABI-430
    Article

    Over 90% say pensions dashboard could help them save for retirement

    2017-08-25T11:06:30Z

    Nine out of 10 parents believe that an online service showing all of their pensions savings would help them to save more for their retirement, according to research by Mumsnet, the parents network, on behalf of the Association of British Insurers (ABI) and the Pensions Dashboard Project.The survey of 1,206 ...

  • EB-WIRED-LOGO-RGB
    Article

    Do not miss Employee Benefits Wired: Supporting good governance

    2017-08-25T11:01:14Z

    Employee Benefits Wired: Supporting good governance, presented in association with Nest, will be broadcast live at 11am on Wednesday 30 August 2017.The expert panel discussion can be viewed for free on the Employee Benefits video channel.The online debate will provide insights on the key issues surrounding good pensions governance and ...

  • Doug Brown Canada Life
    Article

    Canada Life to acquire Retirement Advantage

    2017-08-25T10:57:50Z

    The Canada Life Group (UK) has reached an agreement to acquire financial services provider Retirement Advantage.Retirement Advantage was formed in 2015 from the merger of the retirement income and equity release divisions of MGM Advantage and Stonehaven. The organisation has more than £2 billion of assets under management, including £1.5 ...

  • Ian-Baines
    Article

    EXCLUSIVE: Nationwide to discuss pensions engagement at Employee Benefits Live

    2017-08-24T08:56:34Z

    EXCLUSIVE: Ian Baines (pictured), head of pensions at Nationwide Building Society, is to discuss how employers can encourage and support staff to save more for their retirement at Employee Benefits Live 2017.The session, titled ‘Boosting retirement prospects for employees’, will form part of the workplace pensions conference stream on Tuesday ...

  • Video

    Why governance matters

    2017-08-23T11:01:36Z

    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 ...

  • BHS
    Article

    TPR to prosecute Dominic Chappell for withholding documents during BHS investigation

    2017-08-22T16:01:53Z

    The Pensions Regulator (TPR) is to prosecute Dominic Chappell, the former director and majority shareholder at Retail Acquisitions, for failing to provide requested information and documents to aid the investigation into the sale of BHS.TPR is to prosecute Chappell for failing to comply with three notices that were issued under ...

  • ITV
    Article

    Court of Appeal rules against ITV in pensions anti-avoidance case

    2017-08-22T16:01:03Z

    The Court of Appeal has refused an appeal by television broadcasting organisation ITV, which sought to challenge additional evidence submitted by The Pensions Regulator (TPR) in a long-running pensions anti-avoidance case.The Court of Appeal has agreed with an Upper Tribunal decision in 2016 to allow TPR to submit new evidence ...

  • Pension Kilner Jar
    Article

    Jarrold and Sons completes £19m pensions buy-in

    2017-08-21T10:46:59Z

    Retail organisation Jarrold and Sons has completed a £19 million pensions buy-in transaction.The transaction has secured pension payments for over 500 scheme members, as well as reduced pensions longevity risks for the organisation’s pension scheme, which is provided by Aviva.Western Pension Solutions advised Jarrold and Sons on all aspects of ...

  • pension piggy
    Article

    SSE hedges £1.2bn of longevity risk for two defined benefit pension schemes

    2017-08-15T09:03:57Z

    Energy organisation SSE has hedged pension longevity risks of £1.2 billion across two of its defined benefit (DB) pension schemes through the completion on one longevity insurance and two buy-in transactions.The two buy-in transactions, conducted with Pension Insurance Corporation (PIC), totalled £350 million. This included a buy-in for SSE’s Scottish ...

  • Chris-Curry
    Opinion

    Chris Curry: The changing face of retirement in the UK

    2017-08-14T16:16:38Z

    The process of retirement in the UK has changed. It used to be a relatively simple process. As soon as you reached state pension age, your employer would thank you for your service, tell you that you were free to go and you would stop working and settle down to ...

  • Sovereign
    Case Studies

    Sovereign sees pension contributions rise after education sessions for contact centre staff

    2017-08-14T16:16:35Z

    Housing association Sovereign has seen its employer pension contributions, which are provided on a matching basis to reflect employees’ contributions, increase by £3,500 each month after introducing a new pensions education initiative for its 130 customer contact centre staff.The pensions education programme, provided by Better with Money in March and ...

  • Pencils
    Analysis

    How is pensions education changing?

    2017-08-14T16:00:33Z

    Need to know:Pensions education should explore how all of an employee’s savings options can be optimised to allow for the greatest retirement income over the longest timeframe.The shift from defined benefit (DB) to defined contribution (DC) schemes, as well as the introduction of the pension freedoms in 2015, has changed ...

  • Tata Steel
    Article

    Tata Steel gains initial approval for pension scheme restructure

    2017-08-14T11:15:30Z

    Tata Steel UK and trustees of the British Steel pension scheme (BSPS) have agreed a restructuring deal, which has been granted initial approval by The Pensions Regulator (TPR).Under the agreement, Tata Steel UK will pay £550 million to the British Steel pension scheme (BSPS) to meet conditions of a regulated ...

  • Pension-draw
    Article

    The Pensions Regulator names schemes that fail to meet basic auto-enrolment duties

    2017-08-11T11:04:25Z

    The Pensions Regulator (TPR) has published the names of workplace pension schemes whose trustees have been fined for not providing legally required documentation.Fines were issued to pension trustees for failure to submit scheme returns after receiving a warning from TPR, and for failure to prepare a chair's statement.Pension schemes that ...

  • John-Chilman
    Article

    Chilman joins National Grid

    2017-08-11T08:02:09Z

    John Chilman has joined electricity and gas utility organisation National Grid as group head of pensions.Chilman specialises in pensions, share plan design, executive reward, and total reward statements. He also has experience as a pension scheme trustee, as well as across the pensions and reward sector.Previously, Chilman worked as group ...

  • ali-tayyebi
    Article

    FTSE 350 defined benefit pension deficit falls to £122bn

    2017-08-09T10:35:42Z

    The accounting deficit of defined benefit (DB) pension schemes for the UK’s largest 350 organisations fell from £131 billion at the end of June 2017 to £122 billion at 31 July 2017, according to research by Mercer.Its Pensions risk survey, which is based on projections and analysis of FTSE 350 ...

  • David-Bird
    Article

    57% do not personalise pension communications

    2017-08-08T10:22:54Z

    More than half (57%) of employer respondents do not personalise pension communications for individual employees, according to research by Willis Towers Watson’s UK defined contribution (DC) master trust LifeSight.Its survey of 131 organisations also found that 37% of respondents do not currently have any plans to play a greater role ...