All Pensions articles – Page 74
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ArticleGovernment consults on employer debt in multi-employer DB pension schemes
The Department for Work and Pensions (DWP) has launched a consultation on proposed amendments to employer debt legislation for employers in non-segregated defined benefit (DB) multi-employer pension schemes.The consultation, which launched on 21 April, seeks views on the draft The Occupation Pensions Schemes (Employer Debt) (Amendment) Regulations 2017.The regulations would ...
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ArticleHogan Lovells and Scottish Power shortlisted for best pensions strategy
Law firm Hogan Lovells and energy organisation Scottish Power (pictured) have been shortlisted in the best defined contribution (DC) pensions strategy category at the Employee Benefits Awards 2017.The award, sponsored by Aviva and Friends Life, celebrates organisations that have implemented an effective DC pensions strategy, helping employees to engage with ...
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Article39% are somewhat likely to provide access to a Lifetime Isa in the next five years
More than a third (39%) of employer respondents are somewhat likely to provide staff with access to a Lifetime individual savings account (Lisa) over the next five years, according to research by Willis Towers Watson.Its 2016 UK budget survey report, which surveyed 130 employers, also found that 30% of respondents ...
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OpinionFerdinand Lovett: Workplace pensions and the gig economy
Classifying an individual as a worker instead of a self-employed contractor, as in the recent Uber and Citysprint tribunal cases, really matters from a pensions perspective.This is because the definition of 'worker' in the pensions auto-enrolment legislation is almost identical to the one used in employment rights legislation, with little ...
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ArticlePensions Ombudsman rejects Standard Life employee's transfer value complaint
The Pensions Ombudsman has rejected a complaint by a Standard Life employee, which claimed that the organisation mishandled his request for a new cash equivalent transfer value (CETV).The complainant, referred to as Mr T, was a deferred member of The Standard Life staff pension scheme. In March 2016, he requested ...
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ArticleRoyal Mail to close defined benefit pension scheme to future accrual
Postal organisation Royal Mail has confirmed that it will close its defined benefit (DB) pension scheme to future accrual.The organisation will close the Royal Mail pension plan to future accrual from 31 March 2018, subject to trustee approval.The closure follows a consultation process, which formed part of the organisation’s 2018 ...
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ArticleFinancial Conduct Authority consults on new financial advice factsheet for employers
The Financial Conduct Authority (FCA) has launched a consultation on proposed guidelines designed to clarify the regulatory framework around financial advice, including the development of a factsheet for employers and pension trustees.The consultation is based around four of the recommendations made in the Financial Advice Market Review (FAMR), which was ...
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ArticleMore than 500,000 employers complete their auto-enrolment duties
More than half a million (503,178) UK employers have completed their pensions auto-enrolment duties as of 31 March 2017, according to research by The Pensions Regulator (TPR).Its Declaration of compliance report, which is based on information submitted by employers when they complete their declaration of compliance documentation, also found that ...
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OpinionMark Smith: Inequalities in survivors' pension rights
The course of true love never did run smooth and nor, it seems, does the law on the pension rights of survivors. Three recent cases show the limits of how far the courts will go in filling the gaps left by Parliament as it struggles to keep up with the ...
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Supplier article
How to balance bottom-up with top-down research in constructing multi-asset credit portfolios
In this short video, Azhar Hussain, head of global high yield at Royal London Asset Management, explains how his team balance bottom-up with top-down research in constructing multi-asset credit portfolios.Watch the video in fullThe value of investments and the income from them is not guaranteed and may go down as ...
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ArticleFTSE 350 defined benefit pension deficit falls to £133bn
The accounting deficit of defined benefit (DB) pension schemes for the UK’s largest 350 organisations fell from £137 billion at the end of February 2017 to £133 billion on 31 March 2017, according to research by Mercer.Its Pensions risk survey, which is based on projections and analysis of FTSE 350 ...
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ArticleGovernment consults on early exit charges and pension commission regulations
The Department for Work and Pensions (DWP) has launched a consultation on draft regulations regarding the cap on early exit charges for occupational pension schemes and restrictions on member-borne commission payments.The consultation, which will run until 31 May 2017, seeks views on the draft Occupational Pension Schemes (Charges and Governance) ...
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AnalysisWhat impact will the Lifetime Isa have on UK workplace pensions?
The launch of the Lifetime individual saving account (Lisa) presents an attractive new way for people to boost their savings for a deposit for a first home or their pension pot on retirement, but it should not be seen as an alternative to paying into a workplace pension.From April 2017, ...
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OpinionSusan Ball: What do the changes to salary sacrifice mean for employers?
With publication of the Finance Bill, the final legislation around changes to salary sacrifice is now available, and considerably more pages have been added. Given the volume of additional legislative text, coupled with the short timeframe between publication and the 6 April 2017 effective date, employers face significant practical difficulties ...
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Article
p10: Pensions
More than three-quarters (84%) of respondents allow staff to contribute to their defined contribution (DC) pension through a salary sacrifice arrangement, according to the Employee Benefits/Staffcare Benefits research 2017. This is 10 percentage points higher than in 2016, when 74% of respondents enabled employees to contribute to their workplace pension ...
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Case StudiesThe benefits offered by Holiday Extras
The workplace benefits on offer at Holiday Extras include:Pension:Group personal pension (GPP) plan, with 3% employee contribution. Employer contributes 3% for the majority of staff and 11% for directors and associate directors. Employees can contribute via salary sacrifice. All employees are eligible after they have passed probation, but must opt ...
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Article41% want to receive childcare vouchers through salary sacrifice
Two-fifths (41%) of respondents want to receive childcare vouchers via a salary sacrifice arrangement as part of their employee benefits package, according to research by Sodexo Benefits and Rewards Services.Its survey of 1,000 employees also found that 51% of respondents want to contribute to their workplace pension through a salary ...
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ArticleThe tax and legislation changes impacting reward from April 2017
Chancellor Philip Hammond used both the Autumn Statement 2016 and the Spring Budget 2017 to confirm a number of measures that will affect the pay and benefits landscape. Below is a round up of these measures, along with other tax and legislation changes coming into effect from April 2017:National minimum ...
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AnalysisHow will the gig economy affect employee benefits?
Need to know:Gig workers are revolutionising the service economy. However, employers must tread carefully when offering them benefits or risk legal action and costly reclassification exercises.Arm’s-length benefits arrangements are evolving, where employers act as facilitators, rather than directly contributing financially.The government is currently investigating how the law treats gig workers, ...
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Article9% pay their bonus into their workplace pension
Less than one in 10 (9%) respondents opt to pay at least part of their bonus into their workplace pension, according to research by Aviva.Its survey of 2,012 UK adults also found that 24% of respondents are aware of the tax advantages of paying their bonus into their workplace pension ...