All Pensions articles – Page 65
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ArticleStotts Tours Oldham guilty of pensions auto-enrolment non-compliance
Bus services organisation Stotts Tours Oldham and its managing director have been found guilty of failing to automatically enrol 36 employees into a workplace pension.The Greater Manchester-based organisation and its managing director Alan Stott pleaded guilty to eight counts each of wilful failure to comply with automatic-enrolment duties under the ...
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Supplier article
Blindly selecting drawdown products is putting employees at huge risk of making costly mistakes
Latest findings from the FCA indicate that since the pension changes, twice as many pension pots have moved into drawdown than annuities. The proportion of drawdown bought without advice has risen from 5% before the freedoms to 30% now, and the vast majority (94%) of people who went into drawdown ...
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ArticleFTSE 350 defined benefit pension deficit falls to £67bn
The accounting deficit for defined benefit (DB) pension schemes for the UK’s 350 largest organisations decreased from £68 billion at the end of September 2017 to £67 billion on 31 October 2017, according to research by Mercer.Its Pensions risk survey, which is based on projections and analysis of FTSE 350 ...
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ArticleBroadstone Group acquires Mitchell Consulting and 2020 Trustees
Employee benefits and pensions consultancy organisation Broadstone Group has acquired Manchester-based independent actuarial consulting business Mitchell Consulting, and independent trustee organisation 2020 Trustees.The acquisitions have increased Broadstone Group’s employee headcount to 170 staff in total, and has also expanded its regional UK network to reach across five locations. This includes ...
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Article51% of women feel financially unprepared for retirement
More than half (51%) of female employee respondents feel financially unprepared for their retirement, compared to 35% of male respondents, according to research by Close Brothers Asset Management and the Pensions and Lifetime Savings Association (PLSA).Its The lifetime savings challenge report 2017, which surveyed 1,000 employers with 200 or employees ...
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Article36% of employers think pension freedoms have impacted on how employees retire
More than a third (36%) of employer respondents think that the pension freedoms have had an impact on how employees are choosing to exit the workplace, according to research by Barnett Waddingham and Standard Life.Its survey of 58 UK employers, representing over 750,000 employees, also found that of the respondents ...
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ArticleDo not miss Employee Benefits Wired: Member engagement
Employee Benefits Wired: Member engagement, presented in association with Nest, will be broadcast live at 11am on Thursday 23rd November 2017.The expert panel discussion can be viewed for free on the Employee Benefits video channel.The online debate will provide insights which will focus on the key issues surrounding member engagement ...
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OpinionChris Curry: Employers can take a mixed approach to helping employees save for retirement
Automatic-enrolment has changed the landscape for workplace pensions in the UK, so now it is the norm for employees to be saving in a pension, with a contribution from their employer. But getting people saving is only the start; there is still plenty more that employers can do to make ...
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Case StudiesAgeas Insurance uses a range of communication methods to engage employees with pensions
Ageas Insurance's journey to boost employee engagement with its pension scheme started back in 2013. Nick Cansfield, head of reward and policy at Ageas Insurance, explains: "We'd grown through acquisitions so there were lots of different schemes in place. With auto-enrolment approaching, we decided it would be simpler to have ...
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ArticleTPR to review value for small and micro defined contribution pension schemes
The Pensions Regulator (TPR) has launched a thematic review into whether trustees of small and micro defined contribution (DC) pension schemes are properly assessing value for members.The review, which will analyse chair statements from a cross section of 100 small and micro DC schemes run by either a lay trustee ...
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AnalysisHow can employers create greater employee engagement with pensions?
Need to knowRather than focus on pensions, employers can teach concepts such as regular savings and stock market investment as part of broader financial education.An audience can be segmented by factors such as age, life stage, bonus and size of pension fund to make communications personal.Employers should ditch the jargon ...
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Article24% of divorced women are unable to save into a pension
Under a quarter (24%) of respondents who are divorced women are unable to save into a pension, compared with 12% of divorced men who are not able to save in their pension pot, according to research by Scottish Widows.Its Women and retirement report, which surveyed 5,314 UK adults in April ...
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Article23% of millennials do not know how much their employer pays into their workplace pension
Under a quarter (23%) of respondents aged between 18 and 34 with a workplace pension do not know how much their employer is paying into their occupational pension, according to research by Aegon.Its survey of 685 adults, including 380 employees who have a workplace pension, also found that 58% of ...
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ArticleGovernment consults on draft regulations for bulk DC pension transfers without member consent
The Department for Work and Pensions (DWP) has launched a consultation on draft regulations to simplify procedures around the bulk transfer of defined contribution (DC) pension arrangements without member consent.The consultation, which was launched on 26 October 2017 and will run until 30 November 2017, seeks views on the draft ...
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OpinionWill Sandbrook: How can we improve workers’ financial wellbeing today through to retirement?
Over half of employers say that poor financial wellbeing has had a detrimental impact on their workers’ performance, according to The DNA of financial wellbeing report, published by Neyber in May 2017. It is therefore unsurprising that this is an issue on many employers’ minds.Auto-enrolment has certainly helped the UK ...
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ArticleGovernment consults on draft regulations for the publication of pension costs and charges
The Department for Work and Pensions (DWP) has launched a consultation on proposed policies and draft regulations that would require occupational pension schemes that offer money purchase benefits to publish transaction costs and charges information.The consultation, which launched on 26 October 2017 and will run until 7 December 2017, seeks ...
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Supplier articlePodcast: The gender pensions gap
Taking insights from our recent UK Employee Benefits Watch research, we’ve launched the industry’s first and only podcast series. Our experts discuss how to manage a market-leading benefits programme. Are you aware that the pension savings gap between men and women in the UK currently ...
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AnalysisHow are changing ways of working impacting pensions saving?
Need to know:Employers need to be aware how flexible ways of working, such as sabbaticals, job-shares and part-time working, can impact an employee's pension pot.Employers can encourage retirement savings in the modern workplace through measures such as auto-escalation, bonus sacrifice schemes and the Save More Tomorrow programme.Financial education can be ...
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AnalysisInfographic: What is stopping people paying more into pensions?
An infographic looking at the main reasons that are preventing people paying more into pensions.!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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OpinionTim Middleton: How should pensions communications be adapted for part-time and job-share employees?
Over the past decade, there has been a marked increase in the number of people working part-time. The need for flexibility in the workforce has seen many people take on more than one job and large employers can no longer assume that the majority of their employees are full-time. This ...