All Pensions articles – Page 66
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ArticleSavers access £14.2bn through pension freedoms
Retirement savers have accessed approximately £14.2 billion through the pension freedoms since the pension reforms were introduced in April 2015, according to data from HM Revenue and Customs (HMRC).Its Flexible payments from pensions: October 2017 report also found that the number of individuals who have received flexible payments from their ...
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ArticleEXCLUSIVE: Hays holds pensions roadshows for 3,500 UK employees
EXCLUSIVE: Recruitment organisation Hays is holding a series of pensions-themed roadshows for its 3,500 employees across 17 of its UK sites.The pensions roadshows, which are running for two weeks from Monday 16 October 2017, form part of the organisation’s overall financial capability and wellbeing strategy. Financial wellness and money is ...
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ArticleHeineken awarded for pensions communication
Pub, cider and beer organisation Heineken has been awarded the Pension Quality Mark's {PQM) Distinction Award for its approach to pension communication.The accolade, which was announced at the Pension and Lifetime Savings Association’s (PLSA) annual conference in Manchester, praised Heineken for providing information to its employees using friendly and easy-to-understand ...
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AnalysisWhat do recent court rulings mean for workplace pension schemes?
Need to know:Employers need to review their pension scheme membership and rewrite scheme rules to ensure any same-sex spousal pension benefits owed have been delivered.The ruling in the O'Brien v Ministry of Justice case could have a wide financial impact on pension benefits for part-time employees.Divorce and pension rulings also ...
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AnalysisWhat employers need to know about pension scams
An increase in pension scams led to the government announcing a ban on all cold calling in pensions in August 2017. There are several key facts that can help employers protect their employees from scammers:The Pensions Regulator (TPR) offers resources to alert employees including a video and booklet, and also ...
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OpinionAnne-Marie Winton: Auto-enrolment compliance under the spotlight
The latest workplace pensions scheme figures indicate that, as of July 2017, more than eight million workers are enrolled by approximately 650,000 employers. With an additional 50,000 schemes on the horizon, it would be easy to think that the automatic-enrolment regime is now fully bedded down and compliance, including for ...
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Article75% have not received employer-provided financial education
Three-quarters (75%) of employee respondents have not received financial education from their employer to help them understand what savings choices exist and what is best for them, according to research by Close Brothers and the Pension and Lifetime Savings Association (PLSA).Its The lifetime savings challenge report 2017, which surveyed 1,000 ...
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Supplier article
India Q&A: a market with momentum?
Kunal Desai, Head of Indian Equities, Neptune India is in the midst of a significant transformation, with Prime Minister Narendra Modi undertaking an ambitious reform agenda. But what is the current state of the market and what makes India an attractive investment story today?Read the article hereFor investment professionals only ...
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ArticlePearson completes £1.2bn pensions buy-in
Education and learning organisation Pearson has completed two pension buy-in transactions totalling £1.2 billion.The organisation has purchased pension buy-in policies with both Aviva and Legal and General for The Pearson Pension Plan. These transactions, amounting to £600 million per plan and covering around 2,400 members each, will cover approximately two-thirds ...
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OpinionPhilip Woolham: The rising state pension age: another turn of the screw for employers
Over the summer, the government announced that the state pension age would reach 68 by 2039, not 2046. If this happens, thousands of people will wait longer for state pensions. But is this such a big change?By itself, perhaps not. But the state pension is, for many, the largest part ...
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ArticleRoyal Mail wins High Court injunction to postpone strike action in pensions dispute
Postal organisation Royal Mail has won an injunction from the High Court to postpone planned strike action in an ongoing dispute over pensions.The High Court ruled yesterday (Thursday 12 October) that contractual dispute resolution procedures included in the Agenda for Growth agreement between Royal Mail and trade union Communications Workers ...
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ArticleLloyds Banking Group to acquire Zurich’s UK workplace pensions and savings business
Lloyds Banking Group is to acquire Zurich’s UK workplace pensions and savings business in a deal including assets under administration of more than £15 billion.The acquisition, which is due to partially close in the first quarter of 2018, is aligned with Lloyds Banking Group's growth strategy. This includes accelerating the ...
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ArticleEXCLUSIVE: Travis Perkins and Hays tailor financial wellbeing messages
Employee Benefits Live 2017: Building merchant organisation Travis Perkins and recruitment organisation Hays have tailored their respective financial wellbeing communications in order to engage their differing workforces.Travis Perkins has centred its financial wellbeing communications on established health and safety messages, which its employees readily engage with. A large number of ...
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ArticleCarillion to withdraw discretionary increases in pension payments
Facilities management and construction organisation Carillion is to withdraw annual discretionary increases in pension payments in order to reduce its pension deficit by £80 million.The discretionary increases in pension payments, which were capped at a maximum of 2.5%, were applied annually for members of the Carillion Staff Pension Scheme, for ...
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ArticleFox Williams to discuss pensions auto-re-enrolment at Employee Benefits Live
EXCLUSIVE: Helen Farr (pictured), partner at law firm Fox Williams, will discuss what employers need to consider around pensions auto-re-enrolment and the potential legal pitfalls at Employee Benefits Live 2017.The session, titled ‘Getting auto-re-enrolment right’, will form part of the workplace pensions conference stream on Tuesday 10 October.During the session, ...
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Article94% of group personal pension members invest in default fund
The majority (94%) of group personal pension (GPPs) members invest in their scheme’s default fund, according to research by the Pensions Policy Institute (PPI) and Columbia Threadneedle.Its annual The future book: unravelling workplace pensions report, based on data from from sources including the Office for National Statistics (ONS) and the ...
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ArticleRoyal Mail employees vote for strike action in dispute over pensions
Employees who work for postal organisation Royal Mail and are members of the Communication Workers Union (CWU) trade union, have voted in favour of strike action in an ongoing dispute over the planned closure of the organisation’s defined benefit (DB) pension scheme to future accrual.Nearly three-quarters (73%) of the CWU’s ...
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Supplier article
Race to cash in pension pots could spell retirement disaster
Bumper pension scheme transfer values are luring thousands of individuals to cash-in their final salary pension pots – also known as defined benefit (DB) schemes – which could spell disaster for their retirement plans.Individuals are being offered lump sums worth anything up to 40 times the value of the annual ...
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Article47% of defined benefit pension transfers since 2015 were suitable
Less than half (47%) of 88 recommended defined benefit (DB) pension scheme transfers advised upon since October 2015 were suitable, according to a review by the Financial Conduct Authority (FCA).The review, which has been conducted over the past two years in order to update current FCA guidelines, assessed the advice ...
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Article19% of 66 to 71 year-olds working full or part-time to supplement pension
More than one in five (19%) of respondents between the ages of 66 and 71 are still working full or part-time to supplement their retirement incomes, according to research by Dunstan Thomas.Its survey of 1,002 UK adults aged 54-71 also found that over half (56%) are currently working, or are ...