All Pensions articles – Page 71
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ArticleConfessions of a benefits manager: Candid gets bad service
I might be a bit lazy and easily distracted, but I can tell you I am a productivity ninja compared to the people I have to work with. Let's take my colleague, Lazy Susan. For her, work is just a place to catch up on her social media. Susan's career ...
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ArticleStandard Life employee’s transfer value complaint is rejected by Pensions Ombudsman
The Pensions Ombudsman has rejected a complaint by a Standard Life employee regarding the provision of a second cash equivalent transfer value (CETV) within 12 months of a previous request.The complainant, Mr Y, is a deferred member of the Standard Life staff pension scheme who was considering transferring his deferred ...
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ArticleSkanska agrees £300m pension longevity hedge
The trustees of construction organisation Skanska’s pension scheme have agreed a longevity hedge for the scheme, covering £300 million in member liabilities.The hedge has been agreed between the Skanska Construction Services Trustees for the Skanska Pension Fund and insurance organisation Zurich. Zurich has reinsured 75% of the hedge with reinsurance ...
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ArticleDefined benefit pension funding deficit falls to £460bn
The funding deficit for defined benefit (DB) pension schemes in the UK was £460 billion at the end of June 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 trustees, ...
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Article47% start to save for retirement due to a life stage event
Almost half (47%) of global respondents start to save for retirement because of a life stage event, according to research by Aegon.Its Successful retirement: healthy ageing and financial security report, which surveyed 14,400 employees and 1,600 retired individuals across 15 countries, also found that 32% of global respondents who expect ...
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ArticlePoll: 34% want the new pensions minister to focus on simplifying pensions taxation
Employee Benefits poll: More than one-third (34%) of employer respondents want the new pensions and financial inclusion minister to prioritise the simplification of pensions taxation.A poll of www.employeebenefits.co.uk readers, which received 50 responses, found that 18% of respondents would like the new minister, Guy Opperman, to focus on broader financial ...
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ArticleRetirement income gender gap is £6,400
The annual average expected retirement income for women who are retiring in 2017 is £6,400 lower than the annual average expected retirement income for men retiring this year, according to research by Prudential.Its Class of 2017 report, which surveyed 10,605 non-retired UK adults aged 45 and over, also found that ...
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Article38% believe workplace pensions are the safest way to save for retirement
More than a third (38%) of respondents aged under 40 years old or aged 40 and over who have not yet retired believe that a workplace pension scheme is the safest way to save for retirement in the period July 2016-December 2016, according to research by the Office for National ...
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Supplier article
How employees could avoid losing their pension to scams and fraud
WEALTH at work shares its top tips on how employees could avoid losing their pension to scams and fraudsters.Scams don't look like scams – Scams look and sound legitimate by having very professional looking websites and literature, which is why employees can easily be deceived. Whichever option employees take for ...
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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 ...