All Pensions articles – Page 70
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ArticleGovernment consults on the sustainability of private sector defined benefit pensions
The Department for Work and Pensions (DWP) has launched a consultation into the sustainability of defined benefit (DB) pension schemes in the private sector.The green paper, Security and sustainability in defined benefit pension schemes, poses consultation questions around four key areas: employer contributions and affordability; member protection; consolidation of DB ...
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ArticleEXCLUSIVE: 95% of benefits professionals belong to a workplace pension scheme
EXCLUSIVE: Almost all (95%) HR and benefits professionals belong to a pension scheme provided by their employer, according to research by Employee Benefits.This is the highest percentage of a sample to do so since we first carried out this research in 2008, up from 91% in 2014 and 89% in ...
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ArticleTata Steel employees vote to accept pensions proposal
Tata Steel UK employees who are members of the GMB, Unite and Community trade unions have voted in favour of the organisation’s latest pension proposal, which will see the closure of the British Steel pension scheme (BSPS) to future accrual.Consultative ballots on the proposal closed yesterday (Wednesday 15 February 2017), ...
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Supplier article
A guide to auction finance in 2017
Matt Tooth, Chief Commercial Officer, LendInvest Over the coming weeks, property auction houses across the country will begin sending out their catalogues to prospective buyers in time for the first auction series of 2017. It’s an exciting time for investors, well aware of the opportunities the properties on the lot ...
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Article68% of employers in south west England offer salary sacrifice pension arrangements
More than two-thirds (68%) of employer respondents in the south west of England enable staff to contribute to their workplace pension via a salary sacrifice arrangement, according to research by Benefiz.Its survey of 50 employers based in the south west of England that employ HR managers or directors, also found ...
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Article50% do not understand the role of their employer or trustee in their retirement planning
Half (50%) of respondents do not understand the role and responsibilities of their employer or trustee when it comes to planning for their retirement, according to research by LV=.Its survey of 1,004 UK adults aged 55 or over who have a defined benefit (DB) pension but have not started to ...
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ArticleCourt rules that woman can receive co-habiting partner's workplace pension
The Supreme Court has ruled that an unmarried woman is entitled to receive payments from her co-habiting partner's workplace pension scheme following his death.Denise Brewster, who brought forward the review, had been living with William Leonard McMullan for 10 years in the shared home that they bought together in 2005, ...
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Supplier article
Challenges for employers in 2017
Jonathan Watts-Lay, director at WEALTH at work, discusses the challenges for employers in 2017.Recent data from the ABI shows that in Q1 of this year, 695 people cashed out pension pots worth over £100,000 in full: meaning that they would likely end up paying huge sums in tax. The question ...
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ArticleGovernment invites employer feedback for auto-enrolment review
The Department for Work and Pensions’ (DWP) review of automatic enrolment has called for feedback on the existing and future coverage of automatic enrolment, employee engagement, and contribution levels.The 2017 review of automatic enrolment, which will be led by the DWP and an external advisory group, will seek to ensure ...
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ArticleAuto-enrolment review to consider how to widen workplace pension scope
On 12 December 2016, the Department for Work and Pensions (DWP) confirmed the key areas that will be tackled in the 2017 review of pensions auto-enrolment.As well as measuring the success of auto-enrolment so far, the review will also investigate how auto-enrolment can be developed further to encourage more individuals ...
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ArticleEmployer-arranged pensions advice can be combined with pensions advice allowance
The government has confirmed that the incoming pensions advice allowance can be used alongside the tax exemption for employer-arranged pensions advice, enabling employees to access up to £1,000 of tax-advantaged financial advice in a tax year.In its response to the Introducing a pensions advice allowance consultation, which ran between August ...
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ArticleGovernment sets out strategy to support older employees to stay in work
The government has launched a new strategy to promote the benefits of remaining in work for longer, which includes encouraging employers to increase the number of older employees within their workforces.The Fuller working lives strategy outlines how a coalition of job centres and employers can work together to support older ...
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ArticleDefined benefit pension funding deficit stands at £470bn
The funding deficit for defined benefit (DB) pension schemes was £470 billion at the end of January 2017, according to research by PricewaterhouseCoopers (PWC).Its Skyval index, which is based on data collected from the Skyval pensions platform used by trustees, sponsors and advisers, also found that DB pension assets and ...
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ArticleEXCLUSIVE: 58% of baby boomers have never increased their workplace pension contributions
EXCLUSIVE: More than half (58%) of baby boomer respondents who are in a workplace pension scheme have never increased their workplace pension contributions, according to research by Chase de Vere.Its survey of 500 private sector employees aged between 51 and 70 also found that more than a third (36%) of ...
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ArticleSavers access £9.2bn through pension freedoms
Savers have accessed more than £9.2 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: January 2017 report also found that the number of individuals who have received flexible payments from their ...
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ArticleConfessions of a benefits manager: Candid looks at pensions law
It is safe to say quarterly trustee meetings are never the highlight of my year. Not that my job is otherwise a whirlwind of glittering excitement, but if there is something guaranteed to sink the Candid heart, it is anything to do with pensions. This trustee meeting is not likely ...
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Article27% believe the salary sacrifice changes will damage employee engagement
More than a quarter (27%) of employer respondents believe that the limitations on salary sacrifice arrangements will damage employee engagement and employee relations, according to research by Jelf Employee Benefits.Its 2017 Jelf employment survey, which surveyed approximately up to 350 employers across England and Wales, also found that 47% of ...
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Supplier article
Survey reveals employees left vulnerable to making poor pension decisions
WEALTH at work recently conducted a survey to investigate what has changed in the workplace since the introduction of the pension changes. Its aim was to understand the attitudes and opinions of a range of UK companies in recognising the need to support their employees as they approach retirement.Employees set ...
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OpinionJackie Spencer: The workplace is a good place to start engaging people with their finances
Many people are not saving enough for retirement and with over 40 million people in work across the UK, the workplace is a good place to start engaging people with their finances.A wide range of organisations are already involved in helping people to manage their money better: government bodies, commercial ...
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Case StudiesAKQA engages employees with retirement planning through one-to-one support
With a predominantly younger workforce, generating interest in, and engagement with, pensions and retirement income can be a challenge for digital agency AKQA.The agency, which employs 400 people in the UK but has 17 offices globally, offers a contract-based defined contribution (DC) group personal pension scheme, into which employees are ...