All Pensions articles – Page 64
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ArticleGovernment to implement General Data Protection Regulation through Data Protection Bill
The government will implement the General Data Protection Regulation (GDPR) through the Data Protection Bill, which was announced in the Queen’s Speech on Wednesday 21 June 2017.The GDPR, which been designed to protect EU citizens from privacy and data breaches, will include mandatory breach notifications delivered in a 72-hour period ...
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Supplier article
Is it a good idea for employees to transfer out of a defined benefit pension scheme?
Since the pension changes we have seen a rise in employees wanting to transfer their defined benefit (DB) pension scheme into defined contribution (DC) pensions, so that they can also benefit from the pension freedoms.However, transferring from a DB pension scheme can mean that employees will be giving up valuable ...
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ArticleCoats agrees £74m settlement in pension scheme anti-avoidance case
Industrial thread manufacturing organisation Coats Group has agreed a £74 million settlement for one of its defined benefit (DB) pension schemes, which will bring an anti-avoidance case brought by The Pensions Regulator (TPR) to an end.The settlement relates to the Staveley Industries Retirement Benefits Scheme (SIRBS), which is one of ...
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Article27% increase member contributions to reduce defined benefit pension provision costs
More than a quarter (27%) of pension trustee, scheme sponsor, and pension manager respondents have introduced higher member contributions to reduce the cost of defined benefit (DB) pension provision, according to research by Aon.Its Global pension risk survey 2017, which surveyed 185 UK pension trustees, pension managers and scheme sponsors ...
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OpinionJoanna Bean: Improving financial wellbeing at Samsung
Saving for retirement, or life after work as we call it at Samsung, is an important part of our approach to financial wellbeing and we incorporate this into everyday life and within our varied communications portfolio. It is important to talk to employees at every stage of their work-life journey ...
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AnalysisTop tips to make retirement saving relatable for employees
Need to know:Initiatives that inspire employees to think about what their future might look like can help engage them with the retirement saving they will require to support this.Using terms that relate to present-day situations can make retirement saving feel more relevant to employees.Personalised tools and communications can provide context ...
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ArticleHow the Queen’s Speech 2017 will impact employee benefits
On 21 June 2017, the Queen attended the Houses of Parliament to deliver the Queen’s Speech, and officially open the next session of Parliament following the general election on 8 June 2017.The policies will be debated in the House of Lords and House of Commons over the next five days ...
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OpinionJo Thresher: Tackle common money issues to support employees’ short- and long-term finances
The fact that there is not a job for life anymore means an inability to plan the very long term, which means employers now need to help employees think differently. A lack of financial awareness coupled with a more changeable work life means a significant impact on an employee’s short-, ...
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OpinionMartin Bartlam: Blockchain technology advances can enhance the pensions experience
Imagine you can look up the balance of your benefits at any time, perhaps making a payment or adjusting an investment allocation.You may think that it is not very exciting to have instant access to your pensions statements. But what you are looking at is your asset pool, not a ...
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Article78% saved into a workplace pension in 2016
More than three-quarters (78%) of eligible employees saved into a workplace pension in 2016, compared to 75% in 2015, according to research by the Department for Work and Pensions (DWP).Its Workplace pension participation and savings trends of eligible savers official statistics: 2006 to 2016 report, which is based on analysis ...
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ArticleGovernment appoints Guy Opperman pensions and financial inclusion minister
The government has appointed Guy Opperman parliamentary under-secretary for pensions and financial inclusion at the Department for Work and Pensions (DWP).The position, otherwise referred to as minister for pensions and financial inclusion, replaces that of parliamentary under-secretary of state for pensions. This role was previously held by Richard Harrington, who ...
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ArticleAA to move final salary pension scheme members to Care arrangement
Motoring association AA will proceed with proposed changes to its defined benefit (DB) pension scheme, moving all members of its final salary pension plan to a career average revalued earnings (Care) arrangement.At present, the AA operates both a final salary section and a Care section within its DB pension scheme.The ...
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OpinionRosalind Connor: What the British Airways pensions case means for trustees and employers
The decision in the case of British Airways vs Airways Pension Scheme Trustee was handed down on 19 May 2017. The case, as the judge remarked, has been a lengthy one, and the appeal underway means that the case may well run for many more years. The case is the ...
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Supplier article
The results are in – pension polices stuck in limbo
The results for the UK general election have been announced. Despite failing to win a majority, the Conservatives have secured support from the Democratic Unionist Party (DUP) and will remain in power.This failure to win an overall majority has left many in the pensions industry stuck in limbo over future ...
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Case StudiesThe benefits offered by Moneypenny
The workplace benefits offered by Moneypenny include:PensionA stakeholder pension scheme with a 2% matched contribution from the employer.Healthcare and wellbeingHealth cash plan for all employees; employer-paid at basic level.Free breakfast.Free fruit.Free on-site exercise classes.Wellness bonus.Work-life balance25 days' holiday, increasing to 29 after four years’ service.Part-time work is available on a ...
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ArticlePoll: 15% are examining the General Data Protection Regulation’s impact on benefits
Employee Benefits poll: Less than one-fifth (15%) of employer respondents are currently looking at the impact of the General Data Protection Regulation (GDPR) on benefits and pensions.A poll of www.employeebenefits.co.uk readers, which received 39 responses, also found that 31% are examining their staff data protection policies in light of the ...
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AnalysisHow can benefits support age diversity in the workplace?
Need to knowAs the UK population ages, supporting older employees in the workplace will become a more prominent issue.A benefits strategy does not necessarily need to be age-specific, but can focus on an employee’s life stage to have a bigger impact.Benefits such as flexible working, health and wellbeing initiatives, and ...
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ArticleEXCLUSIVE: 84% offer salary sacrifice pension arrangements
EXCLUSIVE: More than three-quarters (84%) of employer respondents allow staff to contribute to their defined contribution (DC) pension through a salary sacrifice arrangement, according to research by Employee Benefits and Staffcare.The Employee Benefits/Staffcare Benefits research 2017, which surveyed 271 employer respondents in February-March 2017, also found that this is 10 ...
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Supplier article
Focus on retirement income matters: survey 2017
The pension changes revolutionised the world of retirement income and individuals now have greater control over their future plans – but with this comes increased risk and responsibility for both employer and employee.With this in mind, we have set out to investigate what support is available in the workplace to ...
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OpinionCrowley Woodford: Take stock of benefits strategies in light of upcoming changes
Employee benefit offerings come in all shapes and sizes. At one end of the spectrum, there are the traditional employee benefits such as contributions to an employee's pension scheme, childcare vouchers, and subsidised gym membership, and at the other end there are wine clubs, unlimited holiday allowances, and free-bacon Thursdays.With ...