All Pensions articles – Page 63
-
ArticleEsther McVey appointed secretary of state for work and pensions
Conservative member of Parliament (MP) Esther McVey has been appointed as the new secretary of state for work and pensions.McVey, who has been the MP for Tatton since June 2017, commenced her new role in January 2018 after the former minister, David Gauke, was appointed the secretary of state for ...
-
ArticleBT employees accept pay and pensions deal
BT employees who are members of the Prospect trade union have voted to accept a new pay and pensions deal.The agreed deal offers employees being moved from the organisation’s defined benefit (DB) pension scheme, the BTPS, to its defined contribution (DC) scheme, the BTRSS, a transitional payment. Furthermore, employer contributions ...
-
ArticleSimplyhealth revamps benefits and reward proposition
Health cash plan provider Simplyhealth has revamped its benefits and reward proposition for its 1,300 UK-based employees, including enhancing the organisation’s defined contribution (DC) pension scheme, introducing financial education and launching a flexible benefits personal spending account.The changes to the organisation’s benefits offering, which were collectively effective from 1 January ...
-
OpinionHelen Ball: Not all master trust pension schemes are going to opt for authorisation
Since 2012, when employers began automatically enrolling employees into pension schemes, the master trust market has exploded in size and popularity. Membership of master trusts has grown from around 0.2 million in 2010 to around 7.1 million by 2016, according to The Pensions Regulator's annual DC trust: presentation of scheme ...
-
ArticleFTSE 100 defined benefit (DB) pension funding liabilities rise to £705 billion
The funding liabilities for FTSE 100 defined benefit (DB) pension schemes in the UK have risen to £705 billion at the end of December 2017 from £460 billion at the end of September 2017, according to research by JLT Employee Benefits.JLT’s The FTSE 100 and their pension disclosures report, based ...
-
ArticleAuto-enrolment review confirms age criteria to be lowered to 18
The Department for Work and Pensions (DWP) has confirmed that the lower age criteria at which employers are required to auto-enrol employees into a workplace pension is to be reduced from 22-years-old to 18-years-old.The recommendation forms part of the DWP’s Automatic-enrolment review 2017: maintaining the momentum report, published today (Monday ...
-
ArticlePoll: 50% think collective DC pensions schemes are not a suitable DB replacement
Employee Benefits poll: Half (50%) of respondents think that collective defined contribution (DC) pension schemes are not a suitable replacement for defined benefit (DB) arrangements.A straw poll of www.employeebenefits.co.uk readers, which received 26 responses, also found that 27% of respondents believe that collective DC schemes can work as a replacement ...
-
ArticlePirelli completes £100m pensions buy-in
Tyre production and technology organisation Pirelli has completed a £100 million pensions buy-in transaction for three of its defined benefit (DB) pension schemes.The full scheme buy-in transaction is designed to secure the pension benefits for current employee members and retirees of the Pirelli General Executive Pension and Life Assurance Fund, ...
-
Supplier articleHow to kick-start your financial wellness programme
Neil Atkinson, Head of Pensions at Thomsons, share his insights on how to understand the financial challenges your employees are facing, and the most innovative ways to support them with their financial wellness.#benefitsexpertsClick here to watch the two-minute video now.
-
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 ...
-
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 ...
-
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 ...
-
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 ...
-
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 ...
-
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), ...
-
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 ...
-
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 ...
-
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 ...
-
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 ...
-
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% ...