All Pensions articles – Page 81
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ArticleEXCLUSIVE: 93% believe childcare vouchers are best tax-efficient benefit
EXCLUSIVE: The majority (93%) of respondents feel that childcare vouchers are the most popular tax-efficient benefit offered by their organisation, according to the Employee Benefits/Xerox HR Services Benefits research 2016, published in June 2016.The government’s tax-free childcare scheme, aimed at replacing childcare vouchers, will be phased in from 2017, with ...
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Article85% of students expect an annual pay rise when they start work
More than four fifths (85%) of students expect an annual pay rise when they join a workforce, according to research by mobile app Debut.The Expectations of Work report, which surveyed 12,000 students in May 2016, also showed that 80% of respondents believe it is now harder to get a job ...
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ArticleEU referendum 'leave' vote expected to impact workplace benefits
The UK has voted to leave the European Union (EU), with potentially far reaching consequences for employers and employees.With a reported 71.8% turn out, 52% of voters elected to leave the EU in the referendum on 23 June 2016.To begin the withdrawal process, the government will have to trigger Article ...
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The basics of workplace pensions (part 1): find out your staging date
The law on workplace pensions has changed. Under the Pensions Act 2008, every employer in the UK must put certain staff into a pension scheme and contribute towards it. This is called 'automatic enrolment'.Whether you’re a builder, an architect or employ a personal care assistant, if you employ at least ...
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AnalysisHow communication can drive benefits take-up
Driving take-up of any employee benefits package is a perennial challenge for employers; after all, it is no good having a comprehensive scheme if people do not know about it, or understand the value they could potentially get.A good starting point for employers is to make sure they are offering ...
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ArticleDiscover how to tackle pensions auto-re-enrolment at Employee Benefits Live
Employee Benefits Live 2016 will tackle pensions auto-re-enrolment issues as part of its Workplace Pensions conference stream.Graeme Wyllie, head of pensions, UK and Ireland at the Royal Bank of Scotland, and Jill Cunnison, head of reward at Capital One, will explain how they have overcome the challenges of communicating complex ...
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ArticleImperial Chemical Industries Pension Fund agrees £630m buy-in
Imperial Chemical Industries (ICI) Pension Fund has completed a £630m buy-in.The bulk annuity transaction with Scottish Widows covers 4,000 members of the pension scheme.The pension fund was advised by LCP and Allen and Overy on the buy-in transaction.Heath Mottram, chief executive officer at the ICI Pension Fund, said: “This buy-in ...
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ArticleSwindon Town football club fined for failing to meet auto-enrolment duties
In April, The Pensions Regulator (TPR) announced that it had fined Swindon Town Football Company (STFC) £22,900 for repeatedly failing to comply with its auto-enrolment duties.TPR issued the football club with a compliance notice in August 2014 directing it to auto-enrol eligible staff in a pension scheme and contribute into ...
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Should employees trust a robot at-retirement?
Jonathan Watts-Lay, Director, WEALTH at work, on why employees who are approaching retirement should be aware of robo advice.While the pension changes are good news, without financial education and advice employees are vulnerable, not just to the headline-grabbing scams, but to paying unnecessary tax, using the wrong assets for income ...
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AnalysisHow to select the right default fund approach for an organisation
Need to know:Deciding on a default fund strategy depends on the quality of the investment strategy, the suitability for employees, and ongoing governance.Active funds are targeted at growth and are diversified across a range of asset classes, while passive funds track a market and are considered a cheaper option.Employees’ expected ...
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AnalysisWhat is the lie of the land for workplace pension schemes?
In May, the Pensions Policy Institute (PPI) published its report Value for money in defined contribution (DC) workplace pensions. This considered the definition of value for money in this context, as well as how both members and employers can gain value from their schemes.An increased focus on gaining value from ...
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AnalysisThe Pensions Regulator should consider British Home Stores’ demise a wake up call
Need to knowThe Pension Protection Fund caps its compensation.Up to 600 UK pension schemes will never pay full benefits.A pension scheme must not adversely impact an employer’s sustainable growth.The Pensions Regulator (TPR) is under renewed pressure to support employers with large pension scheme deficits following the collapse of British Home ...
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Case StudiesSAS Software offers choice and support to staff
For SAS Software, a key component of its benefits philosophy is that it offers its employees choice to enable them to pick benefits that support them throughout their career, while retaining a sense of being a paternalistic employer.Its UK headquarters, situated on a 110-acre estate on the bank of the ...
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Article58% value phased retirement globally
More than half (58%) of global respondents feel that phased retirement is a very or extremely important occupational benefit, according to research by the Aegon Centre for Longevity and Retirement (ACLR) and the Transamerica Centre for Retirement Studies.The A retirement wake-up call: the Aegon retirement readiness survey 2016 report, which ...
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ArticleGovernment consults on British Steel pension scheme
The government has launched a consultation into potential government support options for the British Steel pension scheme.The defined benefit scheme has approximately 130,000 members, with assets and liabilities totalling around £14 billion.The consultation aims to determine the best course of action, if any, that the government could take as part ...
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High Court ruling could open the floodgates to pension scammers
Until recently, pension providers had wider powers to refuse to make a transfer if they had concerns about where it was going. This acted as a major line of defence in preventing pension scammers from accessing individual’s pensions and savings.However earlier this year, the High Court overturned a Pensions Ombudsman ...
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Workplace pension workshops – learn from the experts
A series of Workplace Pension Workshops will be taking place throughout the UK over the next couple of months. With over 5,600 compliance notices issued in the last 6 months alone from The Pensions Regulator, these events are a must-attend if you're in the process of dealing with your Workplace ...
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ArticlePension exit charges under scrutiny
Exit charges on occupational pension schemes could be scrapped as part of new proposals launched by the Department for Work and Pensions (DWP).The proposals aim to introduce a charging cap to allow employees early access to their retirement funds without suffering high penalty charges.The long-term aim of the proposals is ...
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ArticleScottish Widows completes £54m bulk annuity transaction
Scottish Widow has secured a £54 million pensioner buy-in arrangement with the Barloworld UK Pension Scheme.The buy-in covers a portion of the scheme’s pensioner liability and is a continuation of the global distributor's de-risking strategy.This transaction signals the second bulk annuity transaction for Scottish Widows. The pensions provider secured a ...
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Lisas, pensions and the auto-enrolment secondary market
Delegates at the recent Corporate Adviser roundtable event argued the topics of ending of commission, the third-year anniversary for automatic re-enrolment and the raised profile of governance, and if they were likely to be factors in leading to a vibrant secondary auto-enrolment market.Johnson Fleming Senior Consultant Robert G Kingston was ...