All Pensions articles – Page 67
-
ArticleEXCLUSIVE: 66% believe supporting staff at retirement is a valuable proposition
Employers want to help staff make informed decisions and two-thirds (66%) believe one of the key advantages to supporting staff at retirement is a valuable part of its employee valuable proposition, according to research by Employee Benefits and Nest.The Employee Benefits/Nest research, which surveyed 254 employer respondents in September 2017, ...
-
Article
5 - Scheme type
Group personal pension (GPP) plans remain the most commonly offered type of scheme among respondents. Almost half (45%) of respondents to the Employee Benefits/Nest Pensions research 2017 offer a GPP as their organisation's primary scheme. Although the numbers have fluctuated over the years, GPPs have consistently topped the list of ...
-
ArticleEXCLUSIVE: 43% worried about financial stability in retirement
Cropped shot of a diverse group of unidentifiable people holding hands in a circleFinancial security is a key issue for employees with just under one half (43%) concerned they will not have enough money in retirement, according to research by Employee Benefits and Nest.The uncertainty over financial stability at retirement ...
-
Article
3 Key findings
The survey, which was carried out in September 2017 among readers of employeebenefits.co.uk, received 254 responses. Due to rounding, percentages may not add up to 100.Number of UK-based employees in respondents’ organisationsSample: All respondents (254)1-49 6%10-49 18%50-249 21%250-499 11%500-999 9%1,000-4,999 19%5,000-9,999 5%10,000-19,999 5%20,000 or more 8%Organisation typeSample: All respondents (247)Privately-owned ...
-
Article
2 Sponsor's comment
As the automatic-enrolment staging date period draws to a close, employers that made decisions about their pension scheme up to four years ago are coming into a review period. This review is an opportunity to look closely at pension schemes and to decide if previous choices are still offering value ...
-
Article
14-15 - The future
Financial security is a key concern for employeesJust over two-fifths (41%) of respondents believe uncertainty about how to make the best decisions when accessing pension benefits is an area of concern for their employees. While this continues to top the list of retirement concerns affecting respondents’ workforces, it has fallen ...
-
Article
13, Communications
When respondents’ organisation last undertook a pensions communication exercise. In the last year: 58%1-3 years: 30%4-5 years: 3%5 or more years: 1%They have never conducted a pensions communication exercise: 9%Sample: All respondents (200)The employees with whom the pensions communication exercise was conducted All staff: 86%All staff in the defined contributions ...
-
Article83% value employer pension contributions
More than four-fifths (83%) of employee respondents whose employer currently contributes to their workplace pension value these contributions, according to research by The People’s Pension.Its survey of 1,008 UK employees and 500 UK-based HR decision makers also found that 54% of employees would increase the amount of money they contribute ...
-
ArticleDefined benefit pension funding deficit remains at £460bn at September 2017
The funding deficit for defined benefit (DB) pension schemes in the UK remained at £460 billion at the end of September 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 ...
-
ArticleAverage contribution rate for DC schemes is 4.2% of pensionable earnings
The average total contribution rate for occupational defined contribution (DC) pension schemes in the private sector was 4.2% of pensionable earnings for 2016, according to research by the Office for National Statistics (ONS).Its Occupational pension schemes survey: UK, 2016, also found that for private workplace DC pension schemes, average total ...
-
Article38% plan to increase their employee benefits offering in 2017
More than a third (38%) of employer respondents plan to increase the number of options in their employee benefits package in 2017, according to research by Mattioli Woods.Its 2017 Employee benefits insight report, which surveyed 300 employers and gathered data from 2,692 UK organisations, also found that 21% of respondents ...
-
Article12% have stopped pension contributions to support financially dependent relatives
More than one in 10 (12%) of respondents over the age of 50 have stopped saving into their pension in order to support either children or parents who are financially dependent on them, according to research by Aviva.Its Real retirement report, which surveyed 3,327 UK adults aged 50 or over, ...
-
Article43% do not know how much of their monthly salary to invest into their DC pension
Around four in 10 (43%) of defined contribution (DC) pension scheme members do not know how much of their monthly salary they should be saving into their workplace pension, according to research by BlackRock.Its survey of 509 UK DC pension scheme members aged between 30 and 69 also found that ...
-
Supplier article
Financial education is key to long-term success of workplace pension scheme
The long-term success of the current workplace pension regime relies on the provision of financial education and guidance to persuade individuals of the merits of saving more for their retirement.Jonathan Watts-Lay, Director, WEALTH at work, a leading provider of financial education, guidance and advice in the workplace, said: “We welcome ...
-
ArticleThe Work and Pensions Committee launches inquiry into pension freedoms
The Work and Pensions Committee has launched an inquiry to investigate whether the pension freedom and choice reforms, introduced in 2015, are successfully operating as the policy intended.Its call for evidence, which will be open to responses until Monday 23 October 2017, has asked for feedback on whether the freedom ...
-
ArticleGreensill Capital launches new benefits package for UK staff
Financial services organisation Greensill Capital has launched a new package of benefits and online benefits platform for its 72 UK employees.Its online portal, Greensill Rewards, which was launched in August and is provided by Portus Consulting, provides staff with access to new employer-paid benefits, such as private medical insurance, a ...
-
ArticleDWP consults on increasing Financial Assistance Scheme long service cap
The Department for Work and Pensions (DWP) has launched a consultation into implementing an increased cap on Financial Assistance Scheme (FAS) payments for eligible members with long service in a single defined benefit (DB) pension scheme.The consultation, which will run between 18 September and 25 October 2017, will seek feedback ...
-
Article37% of employers worry staff cannot afford to retire
More than a third (37%) of respondents worry that their employees will not be able to afford to retire, according to research by Hargreaves Lansdown.Its survey of 418 employers also found that 20% of respondents do not want automatic-enrolment contribution rates to change, however, 27% want minimum contribution rates to ...
-
Article53% believe defined benefit pension costs have a negative impact on pay
More than half (53%) of employer respondents that operate a defined benefit (DB) pension scheme for their staff feel that the costs associated with this are having a negative impact on pay increases, according to research by the Association of Consulting Actuaries (ACA).Its first interim report from the ACA pension ...
-
Article17% of over-50s have access to workplace wellbeing support
Under one-fifth (17%) of employee respondents aged 50 or over have access to workplace wellbeing initiatives or advice that could mitigate the impact of health issues on their caeers, according to research by Aviva.Its Real retirement report, which surveyed 3,327 UK adults aged 50 or over, including 1,829 adults who ...