All Pensions articles – Page 63

  • Peter Murphy Sackers
    Opinion

    Peter Murphy: Underestimate The Pensions Regulator at your peril

    2017-07-18T11:33:44Z

    The Pensions Regulator (TPR) wants everyone to know that it is acting more quickly to intervene where it considers schemes to be underfunded, or where there are indications that employers may be avoiding their responsibilities.Employers should be wary. Even if the risk of intervention from TPR is small, it is ...

  • Workplace savings
    Analysis

    How to help employees strike the right savings balance

    2017-07-17T15:04:03Z

    Need to know:Employers recognise that a one-size-fits-all approach to financial education is not as effective as individualisation.Employees face different financial pressures at different life stages, but these change through an individual’s working life.There are a variety of workplace savings schemes that employers can provide to help employees save in the ...

  • Royal Mail
    Article

    Royal Mail offers defined benefit and defined contribution pension deal

    2017-07-14T10:55:43Z

    Royal Mail has proposed a new pensions deal comprising defined benefit (DB) and defined contribution (DC) options for members following the planned closure of its current defined benefit (DB) pension scheme to future accrual in 2018.Under the proposals, affected employees would be offered a choice between a DB cash balance ...

  • Pension
    Article

    Money purchase annual allowance reduction legislation to apply retrospectively

    2017-07-14T10:26:42Z

    The reduction to the money purchase annual allowance (MPAA) and the introduction of the £500 tax-exempt employer-arranged pensions advice allowance are to apply retrospectively from April 2017.These measures were due to be legislated for in the Finance Bill 2017. However, following the announcement of the snap general election on 8 ...

  • Judges
    Article

    Supreme Court refers part-time pensions entitlement case to EU court

    2017-07-13T16:43:10Z

    The Supreme Court has referred to the Court of Justice of the European Union (CJEU) to clarify the amount a retired part-time judge can receive in pension income.The case, O’Brien v Ministry of Justice, relates to retiree O’Brien, who in addition to his work as a barrister also worked on ...

  • debbie-lovewell-tuck
    Opinion

    Lovewell's logic: Building the foundation for a truly modern work environment

    2017-07-13T15:28:35Z

    Changing workforce demographics and employers’ interest in adapting benefits strategies and working patterns accordingly to meet employees’ expectations and needs in the modern workplace is a topic we often address at Employee Benefits. Yet, despite many organisations’ aims to be seen as an employer of choice in order to recruit ...

  • Pension Kilner Jar
    Article

    53% of pension pots accessed under the pension freedoms have been fully withdrawn

    2017-07-13T11:07:24Z

    More than half (53%) of pension pots that have been accessed through the pension freedoms since their introduction in April 2015 have been fully withdrawn, according to research by the Financial Conduct Authority (FCA).Its Retirement outcomes review: interim report, which is based on consumer research, retirement income data, sales data, ...

  • Men holding hands
    Article

    Supreme Court rules in favour of same-sex spousal pension in discrimination case

    2017-07-12T15:45:42Z

    The Supreme Court has ruled that an employee’s spousal pension benefit can be paid to his same-sex partner.The case, Walker v Innospec Limited, relates to retiree John Walker, who worked for global chemical organisation Innospec between 1980 and 2003. Walker, who paid into the organisation’s occupational pension scheme during his ...

  • Pension1
    Article

    96% are confident they are fully compliant with their auto-enrolment duties

    2017-07-10T09:55:08Z

    More than nine in 10 (96%) employer respondents are confident they are fully compliant with their ongoing auto-enrolment duties, according to research by The Pensions Regulator (TPR).Its Ongoing duties survey: July 2017 report, which surveyed 290 micro employers with 1-4 members of staff, 305 small employers with 5-49 employees, and ...

  • Supplier article

    How income drawdown can be utilised to create a tax-efficient pension income

    2017-07-07T13:30:35Z

    Since the pension freedoms, income drawdown has proved to be a popular option for individuals who want greater control and freedom over how they access their pension savings.However if employees go down the income drawdown route, they will need to make sure they don’t pay any unnecessary income tax. Usually ...

  • Le Roy van Zyl
    Article

    FTSE 350 defined benefit pension deficit falls to £131bn

    2017-07-07T09:17:16Z

    The accounting deficit of defined benefit (DB) pension schemes for the UK’s largest 350 organisations fell from £134 billion at the end of May 2017 to £131 billion at 30 June 2017, according to research by Mercer.Its Pensions risk survey, which is based on projections and analysis of FTSE 350 ...

  • Confessions
    Article

    Confessions of a benefits manager: Candid gets bad service

    2017-07-06T13:01:10Z

    I might be a bit lazy and easily distracted, but I can tell you I am a productivity ninja compared to the people I have to work with. Let's take my colleague, Lazy Susan. For her, work is just a place to catch up on her social media. Susan's career ...

  • Standard Life
    Article

    Standard Life employee’s transfer value complaint is rejected by Pensions Ombudsman

    2017-07-05T09:01:55Z

    The Pensions Ombudsman has rejected a complaint by a Standard Life employee regarding the provision of a second cash equivalent transfer value (CETV) within 12 months of a previous request.The complainant, Mr Y, is a deferred member of the Standard Life staff pension scheme who was considering transferring his deferred ...

  • Pension
    Article

    Skanska agrees £300m pension longevity hedge

    2017-07-04T09:35:58Z

    The trustees of construction organisation Skanska’s pension scheme have agreed a longevity hedge for the scheme, covering £300 million in member liabilities.The hedge has been agreed between the Skanska Construction Services Trustees for the Skanska Pension Fund and insurance organisation Zurich. Zurich has reinsured 75% of the hedge with reinsurance ...

  • Pension drawer
    Article

    Defined benefit pension funding deficit falls to £460bn

    2017-07-03T08:00:25Z

    The funding deficit for defined benefit (DB) pension schemes in the UK was £460 billion at the end of June 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, ...

  • Steven Cameron
    Article

    47% start to save for retirement due to a life stage event

    2017-06-29T11:25:38Z

    Almost half (47%) of global respondents start to save for retirement because of a life stage event, according to research by Aegon.Its Successful retirement: healthy ageing and financial security report, which surveyed 14,400 employees and 1,600 retired individuals across 15 countries, also found that 32% of global respondents who expect ...

  • Pension saving
    Article

    Poll: 34% want the new pensions minister to focus on simplifying pensions taxation

    2017-06-29T09:17:26Z

    Employee Benefits poll: More than one-third (34%) of employer respondents want the new pensions and financial inclusion minister to prioritise the simplification of pensions taxation.A poll of www.employeebenefits.co.uk readers, which received 50 responses, found that 18% of respondents would like the new minister, Guy Opperman, to focus on broader financial ...

  • Kirsty-Anderson_12_ED
    Article

    Retirement income gender gap is £6,400

    2017-06-28T07:00:26Z

    The annual average expected retirement income for women who are retiring in 2017 is £6,400 lower than the annual average expected retirement income for men retiring this year, according to research by Prudential.Its Class of 2017 report, which surveyed 10,605 non-retired UK adults aged 45 and over, also found that ...

  • pension-jar-and-clock
    Article

    38% believe workplace pensions are the safest way to save for retirement

    2017-06-27T15:41:13Z

    More than a third (38%) of respondents aged under 40 years old or aged 40 and over who have not yet retired believe that a workplace pension scheme is the safest way to save for retirement in the period July 2016-December 2016, according to research by the Office for National ...

  • Supplier article

    How employees could avoid losing their pension to scams and fraud

    2017-06-27T08:51:23Z

    WEALTH at work shares its top tips on how employees could avoid losing their pension to scams and fraudsters.Scams don't look like scams – Scams look and sound legitimate by having very professional looking websites and literature, which is why employees can easily be deceived. Whichever option employees take for ...