All Pensions articles – Page 73
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ArticleAgeas, Hasbro and Oracle shortlisted for best pensions communications
Ageas, Hasbro and Oracle (pictured) are among the organisations that have been shortlisted in the best pensions communications category at the Employee Benefits Awards 2017.This award celebrates employers that have implemented an effective pensions communications strategy.The full category shortlist is:Ageas, Pensions Re-EnrolmentDHL (Entered by Willis Towers Watson)Hasbro, The Lab (Entered ...
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ArticleThe College of Law Pension and Assurance Scheme completes £28m buy-in
The College of Law Pension and Assurance Scheme has completed a £28 million pension buy-in transaction with Aviva.The College of Law Pension and Assurance Scheme is administered by the Legal Education Foundation and has 760 members. The transaction covers employees who have been retired since 2012. This means that the ...
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ArticleHigh Court rules against British Airways in pensions discretionary increase case
A High Court judge has ruled against British Airways (BA) in its bid to challenge a decision made by its pension scheme trustees to award a 0.2% discretionary increase to members of the Airways Pension Scheme (APS).The case, which was heard between October and December 2016, centred around allowing the ...
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ArticleTata Steel offers to pay £550m to British Steel pension scheme
Manufacturing organisation Tata Steel has offered to pay £550 million to the British Steel pension scheme (BSPS) to meet conditions of a regulated apportionment arrangement (RAA), which has been agreed in principle.The defined benefit (DB) pension scheme closed to future accrual on 31 March 2017 following a consultation process. In ...
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ArticleThe Pensions Regulator names auto-enrolment non-compliant employers
The Pensions Regulator (TPR) has published the names of employers that have not complied with pensions auto-enrolment regulations after being issued an escalating penalty notice.This includes organisations that TPR has secured a court order against for failure to pay escalating penalty notices for auto-enrolment non-compliance, as well as those that ...
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Article36% expect to work past the age of 65 due to insufficient pension savings
More than a third (36%) of respondents expect to work past the age of 65 because their pension savings will not be sufficient to allow them to afford to retire, according to research by Canada Life Group Insurance.Its survey of 1,004 UK employees in full or part-time employment, also found ...
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ArticleWhat does the legislative delay to the money purchase annual allowance mean for employers?
The Finance Bill received Royal Assent on 27 April, becoming the Finance Act 2017. However, the final act omitted a number of clauses in a bid to expedite its passage through Parliament ahead of the snap general election on 8 June.In the final reading of the Finance Bill in the ...
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Article39% believe the Lifetime Isa will cause confusion among staff
Over a third (39%) of employer respondents believe the introduction of the Lifetime individual savings account (Lisa) will cause confusion for employees looking to save, according to research by Close Brothers Asset Management.Its Business barometer report, which surveyed 900 UK employers, also found that 20% of respondents plan to respond ...
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ArticleInterContinental Hotels Group introduces online retirement planning tool
Multinational hotel organisation InterContinental Hotels Group (IHG) has introduced an online retirement planning tool to help staff achieve their savings goals.The Guided Outcomes (GO) tool, provided by Hymans Robertson, will enable 842 active members and 497 deferred members of the IHG defined contribution (DC) pension scheme to set retirement income ...
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Supplier article
Helping employees ensure a good retirement income
By Jonathan Watts-Lay, Director, WEALTH at work, a leading provider of financial education, guidance and advice in the workplaceHoping for the best is not the most effective way to ensure that an individual’s retirement income will be adequate, and employers can help their staff to become more involved in putting ...
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ArticleEmployee Benefits named Pensions/Benefits Publication of the Year 2017
Employee Benefits has been named Pensions/Benefits Publication of the Year at the 2017 Willis Towers Watson Media Awards, winning the accolade for the third consecutive year.The annual industry media awards, now in its twelfth year, recognises excellence in business journalism, focusing on HR, pensions, benefits, insurance, reinsurance and risk, mergers ...
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ArticleFTSE 350 defined benefit pension deficit rises to £145bn
The accounting deficit of defined benefit (DB) pension schemes for the UK’s largest 350 organisations rose by £12 billion from £133 billion at the end of March 2017 to £145 billion at 28 April 2017, according to research by Mercer.Its Pensions risk survey, which is based on projections and analysis ...
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ArticlePoll: 58% unaware of the legislative delay to the money purchase annual allowance reduction
Employee Benefits poll: More than half (58%) of employer respondents are not aware of the legislative delay to the changes to the money purchase annual allowance (MPAA).A poll of www.employeebenefits.co.uk readers, which received 33 responses, found that 42% of respondents are aware that the reduction to the MPAA was not ...
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ArticlePension Schemes Bill 2017 receives Royal Assent
The Pension Schemes Bill 2017, which legislates for greater protections around master trusts, has received Royal Assent.This is the final stage of the bill going through Parliament and becoming an Act, making it law.The Pension Schemes Bill increases protection for members of master trusts, which includes granting The Pensions Regulator ...
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Article51% plan to review their employee benefits package this year
Around half (51%) of employer respondents plan to review their employee benefits package this year, according to research by Jelf Employee Benefits.Its survey of 250 medium and large organisations also found that 24% cite the changes to salary sacrifice as the legislative change that is most likely to trigger a ...
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OpinionLovewell's logic: Pensions allowance controversy continues
The government’s planned reduction of the money purchase annual allowance (MPAA) from £10,000 to £4,000 has always been a somewhat controversial move.It hit the headlines again earlier this week when the government confirmed that it would delay legislating for the reduction to the MPAA after the clauses that would legislate ...
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ArticleSavers access £10.8bn through pension freedoms
Retirement savers have accessed approximately £10.8 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: April 2017 report also found that the number of individuals who have received flexible payments from their ...
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ArticleGovernment delays money purchase annual allowance and pensions advice legislation
The government is to delay legislating for the reduction to the money purchase annual allowance (MPAA), and the introduction of the £500 tax-exempt employer-arranged pensions advice allowance.The clauses that would legislate for these provisions have been removed from the Finance Bill 2017, which was debated in the House of Commons ...
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Supplier article
What has been the impact of pension freedoms?
Jonathan Watts-Lay, director, WEALTH at work, comments: “The pension changes have brought a whole new range of options to consider. Individuals now have to think about whether they want an annuity, drawdown, cash or a combination of options; when to access their pension; if it is better to use savings ...
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Supplier article
State pension age rise and retirement planning
From 2019, the state pension age will start to increase for both men and women to reach 66 by 2020. The government is planning further increases, which will raise the state pension age from 66 to 67 between 2026 and 2028.Jonathan Watts-Lay, Director, WEALTH at work, said: “It’s vital those ...