All Pensions articles – Page 73
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ArticleFCA consults on annuity comparator implementation
The Financial Conduct Authority (FCA) has launched a consultation on its plans to require annuity providers to inform consumers about how much they could gain from shopping around before a potential annuity purchase.The introduction of an annuity comparator aims to encourage individuals to shop around for a competitive annuity product ...
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ArticleDo not miss Employee Benefits Wired: maximising pensions potential
Employee Benefits Wired: maximising pensions potential, presented in association with Close Brothers Asset Management, will be broadcast live at 11am on Tuesday 29 November 2016. The debate can be viewed for free on EB TV.The online panel discussion will provide insight on the key factors impacting pensions. This will include ...
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ArticleHow the Autumn Statement 2016 will impact employee benefits
On 23 November 2016, Chancellor Philip Hammond delivered his Autumn Statement 2016 speech. Below is a round-up of the key announcements with a bearing on employee benefits:From April 2017, the government will limit the range of benefits that attract tax and employer national insurance (NI) advantages when offered through a ...
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ArticleEXCLUSIVE: 73% have conducted a pensions communication exercise in the last year
EXCLUSIVE: Almost three-quarters (73%) of employer respondents have carried out a pensions communication exercise within the last year, according to research by Employee Benefits and Close Brothers.The Employee Benefits/Close Brothers Pensions research 2016, which surveyed 250 employer respondents, also found that 18% of respondents have undertaken a pensions communication exercise ...
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ArticleGovernment limits tax-efficient salary sacrifice arrangements
Autumn Statement 2016: From April 2017, the government will significantly limit the range of benefits that attract tax and employer national insurance (NI) advantages when offered through a salary sacrifice arrangement.Pensions and pensions advice, childcare, bikes-for-work schemes, and ultra-low emission vehicles (ULEVs) will be exempt from the changes.Arrangements in place ...
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ArticleGovernment to consult on measures to tackle pension cold calling
Autumn Statement 2016: Chancellor Philip Hammond has announced plans to tackle pension cold calling.In his Autumn Statement, Hammond said that the government plans to publish a consultation on options to tackle pension scams including a ban on cold calling in relation to pensions, giving organisations greater powers to block suspicious ...
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ArticleGovernment to reduce money purchase annual allowance
Autumn Statement 2016: Chancellor Philip Hammond (pictured) has announced that the money purchase annual allowance is set to be reduced to £4,000 from April 2017.The money purchase annual allowance applies to those who have accessed their pension savings through the pension flexibilities and then make further defined contribution (DC) pension ...
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ArticleBenchmark your pay and benefits package
How does your salary stack up against your peers'? And how does your total remuneration package compare to other reward and benefits professionals?Take part in the exclusive Employee Benefits salary survey for the chance to benchmark your own benefits and compensation offering.We are particularly interested in finding out how salary ...
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Article65% do not feel they understand how workplace pensions are taxed
Almost two thirds (65%) of respondents do not feel they have a good understanding of how workplace pensions are taxed, according to research by PricewaterhouseCoopers (PWC).Its survey of 2,000 UK adults also found that three quarters (75%) of respondents do not understand how the lifetime individual savings account (Lisa) will ...
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Supplier article
Why the next Fed rate move might be down, not up, and how that’s not remotely priced in
Over the last seven years you have probably read countless articles and had endless discussions about when the Federal Reserve (Fed) is next going to hike.The chart below shows the Fed Funds rate implied by the market at the beginning of each year since 2010. The Fed did finally edge ...
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ArticleAuto-enrolment increases pension saving by £2.5bn
Pension saving has increased by £2.5 billion a year by April 2015 as a result of auto-enrolment, according to research by the Institute for Fiscal Studies (IFS).Its study, which analysed data from around 500,000 jobs between April 2011 and April 2015, also found that auto-enrolment has increased pension participation among ...
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Article58% do not know how much their employer contributes to their pension
More than half (58%) of respondents do not know how much their employer contributes to their workplace pension, according to research by Just Retirement.Its survey of 3,208 employees over the age of 21 also found that 43% of respondents would struggle to identify how much they contribute to their workplace ...
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Article65% of employees view financial wellness in the workplace as important
Almost two thirds (65%) of employee respondents cite financial wellness in the workplace as important to them, according to research by Thomsons Online Benefits.Its Future of financial wellness report, which surveyed 200 HR and reward professionals and 500 employees in the UK, also found that less than one in 10 ...
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Article53% of under 35s place flexible working in their top three benefits
More than half (53%) of respondents under the age of 35 cite flexible working as one of the top three most attractive benefits when applying for a new job, according to research by Fidelity International.Its survey of 1,230 UK employees also found that 53% of all respondents list annual leave ...
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Case StudiesScottish Power uses technology to keep employees’ retirement plans on track
Scottish Power’s UK pensions manager, Anne Harris, is keen to keep up with advances in pension technology to ensure that employees’ retirement plans are on track. She says: “Pensions are becoming more and more complicated, so employees are becoming switched off.“It’s vital that our stakeholder pension scheme members are saving ...
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ArticleEarly exit charges to be capped at 1% for existing pension schemes
Early exit charges for existing pension schemes are to be capped at 1% from 2017.The cap aims to ensure that individuals over the age of 55 who wish to take advantage of the pension freedoms are not unfairly penalised for accessing their savings early.The Department for Work and Pensions (DWP) ...
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ArticleWhat is the future for pensions technology?
Need to knowThe introduction of the pension freedoms intensified the need for online pension tools.New pensions technology will be more interactive, allowing employees to make immediate changes to their pension plan.The growth of defined contribution assets will help drive product innovation.Pensions technology was thrust into the limelight following the announcement ...
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Supplier article
Taking a wider view with pension transfers
Recently I had an interesting discussion with pension lawyers and professional financial Advisers about the requirements to provide advice on pension transfers, particularly around defined benefit (DB) schemes; a target area for scammers and one that carries risk due to the valuable benefits in these schemes.The first question discussed was; ...
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ArticleRolls-Royce completes £1.1bn pension buyout
Rolls-Royce has completed a £1.1 billion pension buyout for its Vickers Group pension scheme.The £1.1bn buyout transaction with Legal and General covers more than 11,000 members of the pension scheme, which is part of the Rolls-Royce Group. Rolls-Royce acquired engineering organisation Vickers in 1999.The buyout forms part of the pension ...
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ArticleJeanette Makings: The continuing importance of pensions
Pensions are not the whole story of the UK’s workplace benefits offering, but they are still a major player. Half of respondents have more than 90% of their workforce as active members of their primary pension scheme. And with 68% of organisations contributing 3% or more and 26% contributing between ...