All Pensions articles – Page 82
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Article16% of defined contribution scheme members are saving enough into their pension
Less than a fifth (16%) of defined contribution (DC) pension scheme member respondents are saving enough into their pension to maintain their current standard of living in retirement, according to research by Aon.The Defined contribution member survey 2016, which surveyed 2,004 UK adults who are members of a DC fund, ...
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ArticleAdecco Group moves to monthly flex enrolment to enhance benefits engagement
Employee Benefits Live 2016: Adecco Group UK and Ireland has moved from an annual flexible benefits enrolment window to monthly enrolment.The change, which was introduced this year, aims to increase employee engagement and ensure that the organisation’s benefits package is available to all.The transition to monthly enrolment forms part of ...
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ArticleCapital One drives pensions engagement via themed communications campaign
Employee Benefits Live 2016: Capital One developed a tongue in cheek retirement-themed communications campaign to engage staff with pensions following the transition to a master trust in 2015.The campaign included appearances by street performers Granny Turismo, who perform their acts dressed as grannies and use trolleys as props. Some employees ...
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ArticleGovernment to develop single body for pensions and debt guidance
The government is to develop a single, public financial guidance body to provide individuals with easy access to pensions and money guidance, and debt advice.The new body will replace Pension Wise, The Pensions Advisory Service (TPAS), and the Money Advice Service.Plans laid out in the March 2016 Budget originally set ...
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Case StudiesMotability supports staff to make informed investment decisions
Motability has always been keen for staff to be fully engaged in, and informed enough about its contract-based defined contribution stakeholder pension plan, so that they can decide how best to invest their pension contributions.This is why the mobility support services charity has produced a comprehensive pensions communication strategy, which ...
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ArticleHow can employers support staff around pension investment decisions?
Need to know:The majority of employees are in their employer’s default pension fund.Many employers are nervous about providing financial guidance to staff.Sourcing investment fund information may be difficult.The majority (90%) of active defined contribution (DC) pension scheme members invest in their employer’s default pension fund, according to the Pensions and ...
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Article
4: key findings
The survey, which was conducted in September 2016 among readers of Employee Benefits and www.employeebenefits.co.uk, received 250 responses. Due to rounding, percentages may not add up to 100.Key findings:68% of respondents want to support staff in making more informed decisions at retirement.45% of respondents see auto-re-enrolment as an opportunity to ...
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Supplier article
Pension investment strategy: Are Target Date Funds the future for UK DC scheme members?
There are now more active savers in UK DC pension schemes than in DB pension schemes, according to recent stats from the Pensions Policy Institute. It also estimate that in just 15 years there could be as many as 17 million members enrolled in DC workplace pension schemes*.Based on current ...
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Supplier article
'Feeling the Squeeze'
Royal London carried out a UK wide survey with 2,500 consumers age 35-44 over the summer. The survey found that over a third, 34 per cent, said their finances felt Squeezed and so were struggling to meet day-to-day expenses, despite 87 per cent being aware that they need to save ...
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ArticleFinancial Conduct Authority consults on transaction cost disclosure for workplace pensions
The Financial Conduct Authority (FCA) has launched a consultation around proposals for standardising the procedure for disclosing transaction costs in workplace pension schemes.Its proposed guidance suggests that asset managers should be subject to the same transaction cost reporting structures as independent governance committees (IGCs) and trustees, ensuring a consistency of ...
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Supplier article
10 things employees should consider before leaving defined benefit pension schemes
In the past, the majority of pension savers were members of a defined benefit (DB) pension scheme also known as final salary schemes. Poor working and living conditions meant that retirement tended to only be for a few years, and certainly not the 20, 30 and even 40 years that ...
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Supplier article
Forthcoming changes to the Pension Protection Fund (PPF)
By David Piltz, EMEA Consulting and Market LeaderAutumn is a season of change and the Pension Protection Fund is certainly embracing that sentiment.The Pension Protection Fund (PPF) has, in recent years, received a number of comments on the level of compensation (and comparative fairness from one member to another) that ...
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ArticleFTSE 350 pension deficit falls to £152bn
The accounting deficit of defined benefit (DB) pension schemes for the UK’s 350 largest listed organisations fell from £160bn in August 2016 to £152bn in September 2016, according to research by Mercer.Its Pensions risk survey, which is based on analysis and projections of FTSE 350 organisations’ financial statements adjusted from ...
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Case StudiesThe benefits offered by Misys
The workplace benefits offered by Misys include:PensionA group personal pension open to all employees. Misys offers a matching contribution scheme if the employee contributes up to 6%, 8% or 10%, depending on job level.Group riskGroup income protection: employer-paid, the default level is 75%, and employees can flex up or down.Critical ...
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Case StudiesMisys places focus on employee engagement and wellbeing
Having been through a number of acquisitions and a benefits harmonisation project in recent years, financial services software provider Misys is now primarily focused on the health, wellbeing and engagement of its employees.For Anne Teggart, global head of benefits, a major part of the harmonisation was to review the company’s ...
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Article21% are concerned about the performance of their workplace pension scheme
More than a fifth (21%) of respondents are concerned about how their workplace pension scheme has performed over the past two years, according to research by employee benefits organisation Portus Consulting.Its survey of 1,043 UK employees also found that 27% of respondents would welcome guidance on retirement planning from their ...
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Supplier article
Retirement conversations: Yes, no or maybe?
The past few years have seen a significant alteration in the UK retirement landscape. There are many factors behind this change, but the two biggest influences are probably:The abolition of the Default Retirement Age (DRA)The introduction of Pension 'Freedoms'The first of the above changes effectively gave older employees much more ...
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ArticleCurrent government consultations could impact employee benefits strategies
A round-up of current government consultations with a bearing on employee benefits:Tax-efficient benefitsHM Revenue and Customs has launched a consultation to examine the potential impact on employers and employees should the government change the way the benefits code applies when a benefit in kind (BIK) is provided in conjunction with ...
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Article65% expect their employer to provide guidance on benefits
Almost two-thirds (65%) of respondents expect their employer to provide guidance on the employee benefits available to them and how appropriate each benefit is for them and their family, according to research by Capita Employee Benefits.Its Employee insight report 2016-17, which surveyed 3,006 UK employees, also found that 69% of ...
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Supplier article
Three reasons why the Indian bull market can continue
Indian equities have officially re-entered a bull market, with the benchmark index climbing to a 11-month high. But this is just the start, argues Neptune head of Indian Equities Kunal Desai.Read more:Important informationInvestment risksNeptune funds may have a high historic volatility rating and past performance is not a guide for ...