All Pensions articles – Page 77
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Article
Government extends pensions VAT deadline
HM Revenue and Customs (HMRC) has extended the deadline to implement revised methods for the deduction of VAT on pension costs.The transition period has been extended by a further 12 months, meaning that organisations and trustees now have until 31 December 2017 to amend arrangements whereby employers can recover VAT ...
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Article
34% feel there is too much choice when saving for retirement
Just over two thirds (34%) of respondents believe there is too much choice when it comes to saving for retirement, according to research by Willis Towers Watson and Nottingham University Business School.The study, which surveyed 2,000 UK employees, also found that 35% of respondents feel that a lack of knowledge ...
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Supplier article
2017 and the savings landscape…
Anyone who is involved in the world of workplace savings will recognise that the last few months have been rather interesting to say the least.At the start of the year both employers and the pensions industry were braced for major changes to UK pension tax reliefs in the March Budget. ...
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Supplier article
Accessing defined contribution (DC) schemes and how to ‘decumulate’
Maybe not as frightening as coming face to face with the Daleks but the problem of how employees access their defined contribution (DC) pension schemes and ‘decumulate’ seems to be growing and exercising a lot of capable minds in the pensions world.With income drawdown on the increase (now the most ...
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Supplier article
Understanding retirement income options: as easy as it seems?
by Jonathan Watts-Lay, Director, WEALTH at workLast week I was talking to a colleague, a keen cyclist, about the impact of financial education and guidance on members’ retirement outcomes.He said there were many parallels between his take-up of cycling, and becoming a competent cyclist, and what we do for employees ...
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Article
EXCLUSIVE: Allen and Overy to discuss auto-re-enrolment at Employee Benefits Live
EXCLUSIVE: Law firm Allen and Overy will share case studies and practical information about pensions auto-re-enrolment at Employee Benefits Live 2016.Jane Higgins (pictured), partner at Allen and Overy, will deliver a session entitled 'Auto-re-enrolment: are you ready?' on Tuesday 11 October as part of the two-day event's workplace pensions conference ...
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Article
6: small tax and leg: Government consultation round-up
Gender pay gap reporting for the public sectorGender pay gap reporting guidelines are already in place for private and voluntary organisations employing more than 250 staff, with initial data due to be captured in 2017. In alignment with these measures, the government has recently concluded consulting on how to implement ...
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Article
75% are not encouraged to check their pension at work
Three quarters (75%) of respondents are not actively encouraged by their employer to check their workplace pension during working hours, according to research by Aegon.Its survey of 386 consumer and customer panel members also found that 86% of respondents would check their workplace pension during working hours if encouraged by ...
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Supplier article
Pension changes survey 2016
The pension freedoms changed the face of retirement income options for members of defined contribution (DC) schemes.Now that it’s been over a year since the changes came into force, we ask - how far have employers come with adapting to this? What are they doing to support employees through this ...
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Article
56% are saving adequately for retirement
Just over half (56%) of respondents are saving enough money for their retirement, according to research by Scottish Widows.The annual Scottish Widows retirement report, which surveyed 5,151 UK adults, also found that 18% of respondents are not saving for retirement at all.The mean age at which respondents feel they could ...
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Supplier article
The pensions revolution continues…
Even the most casual of observers will have spotted that the world of pensions has been undergoing something of a revolution throughout the whole of the current decade, and many of these changes have directly impacted the world of workplace savings and company sponsored pension plans.Of the many (and ongoing) ...
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Article
Take part in exclusive pensions research
How are you supporting staff planning for their retirement? How do you feel Brexit will impact pensions?Have your say in the exclusive Employee Benefits/Close Brothers Pensions research 2016, which aims to help you benchmark your organisation’s pensions strategy.We are particularly interested in hearing about your approach to pensions communication, changes ...
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Article
Government presses ahead with Lifetime Isa
The Savings (Government Contributions) Bill 2016-2017, which will legislate for the Lifetime individual savings account (Lisa), has been introduced to the House of Commons.The Lisa was unveiled by former Chancellor George Osborne in the March 2016 Budget. The savings vehicle aims to help young people save for their first home ...
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Article
FCA consults on Pension Wise standards for secondary annuity market
The Financial Conduct Authority (FCA) has launched a consultation into the standards of support expected of Pension Wise for those considering selling an annuity upon the launch of the secondary annuity market.The government will remove tax restrictions for individuals looking to sell their annuity from April 2017.The remit of the ...
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Case Studies
Gerald Eve engages staff with pension saving through bonus scheme and financial education
Property consultancy Gerald Eve, which employs more than 430 staff across nine UK offices, utilises a range of communication channels and topical and lifestage-focused financial education support to engage its employees with pension saving.Gerald Eve has a high pensions take-up rate, with 93% of eligible employees saving into the ...
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Opinion
Tim Middleton: Pensions education must start early on in employees' working lives
Automatic enrolment owes its success to the harnessing of inertia. Employees are, by default, enrolled into their employer’s pension scheme and contributions are automatically deducted and invested on their behalf.However, in spite of its success in bringing so many employees into workplace pension saving, automatic enrolment is not on its ...
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Article
Marks and Spencer enhances pay and pensions deal
Retailer Marks and Spencer has enhanced the pay deal offered to staff, including the extension of top up payments and pension cash supplements for affected employees.The agreed offer follows the completion of a three-month consultation on pay and pensions with the organisation's national employee representative group, the Business Involvement Group.The ...
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Analysis
How to create a year-round pensions engagement strategy
Need to know:A year-round pensions engagement strategy can help to maintain and increase interest levels over the longer term.Certain personal and national events can serve as opportunities to shine a spotlight on pensions and build momentum.Including pensions in a wider financial wellbeing strategy can enable staff to better visualise the ...
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Article
EXCLUSIVE: 49% cite flexible working as most coveted future benefit
Just under half (49%) of respondents say flexible-working arrangements and work-life balance will be the most important benefits to them in the future, making it the most coveted benefit, according to research by Grass Roots.Its Future of employee benefits report, which surveyed 1,000 employees and 200 HR managers, also found ...
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Article
Pirelli agrees £600m pension longevity swaps
Multi-national tyre firm Pirelli has agreed two longevity swaps for its UK pension arrangements to counteract the risks of an ageing population.The longevity swaps have been arranged for both the Pirelli General Pension and Life Assurance Fund and the Pirelli Tyres Limited 1988 Pension and Life Assurance Fund with Zurich ...