All Pensions articles – Page 85
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AnalysisUnderstanding pensions governance
From April 2015, all firms that operate workplace pension schemes have been required to establish and maintain an independent governance committee (IGC), which has a clear duty to act independently of the business. All IGCs must produce a publicly available annual report setting out information on the schemes’ value for ...
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ArticleCo-operative Group chief executive requests 60% pay cut
The Co-operative Group’s chief executive has requested a 60% cut to his total remuneration package.Richard Pennycook (pictured) will see his base salary reduce from £1.25m to £750,000 from July 2016.From 2017, the maximum annual incentive plan award will fall from 100% of base salary to 40% of base salary, and ...
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Article16% refer staff to Pension Wise
Less than one-fifth (16%) of employer respondents are referring their employees to the Pension Wise service, compared to 20% in October 2015, according to research by Close Brothers Asset Management.The latest Close Brothers business barometer, which surveyed 917 employers, also found that more than a third (36%) of respondents offer ...
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Supplier article
Pension changes: a year older, a year wiser?
Jonathan Watts-Lay, director, Wealth at Work, recently took part in a film interview with Employee Benefits to talk about the pension changes now it’s one year on.Freedom and choice in pensions was the most seismic change to our pension landscape for a generation and created a set of challenges and ...
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ArticleCo-operative Food to increase new starter pay by 1.8%
The Co-operative Group is increasing pay for new starters in its food stores by 1.8%.The increase follows a two-year pay deal agreed in 2015 that will see 40,000 employees working in frontline positions in its food business receive a pay rise of 8.5% by October 2016.The increases take pay levels ...
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Supplier article
Express: Johnson Fleming’s new SME auto-enrolment product
We are excited to announce that today we’ve launched Express – a new quick and simple solution for auto-enrolment.Express expands upon our existing suite of fully compliant auto-enrolment solutions, but goes further in providing smaller employers with a complete managed solution. Around 1.8 million employers are due to reach their ...
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Article50% of DB pension scheme members take up employer-paid financial advice
Half (50%) of defined benefit (DB) pension scheme members aged 55 and over have opted to speak to a financial adviser if offered this service for free by their employer, according to research by Willis Towers Watson.The research is based on data provided by financial advisory firms and examines 15,700 ...
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AnalysisHow much is a good-quality pension scheme really worth?
Offering a good-quality pension scheme that goes beyond the legal minimums can be an effective tool to recruit, retain and engage employees.What is the value to employers of offering a good-quality pension scheme?There is a very strong and increasing focus on pensions. With the move away from defined benefit schemes, ...
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Supplier article
ECB policy strengthens investment case for value & banks
By Rob Burnett, head of European Equities at Neptune The ECB delivered a strong package in its latest policy announcement that managed to find the right balance between supporting the economy and not endangering the banking system.The EU banking system is very sensitive to negative rates and, if the ECB ...
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Supplier article
Making your at-retirement strategy work: tips for employers
Listen again to the recent Workplace, Savings and Benefits webinar we recently supported, which looked at how employers can make their at-retirement strategy work.Pension freedoms were announced in April 2014 and implemented in April 2015. Within three months of implementation, more than £2.5 billion of payments had been made to ...
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ArticleOmbudsman upholds pensions tax complaint against police
The Pensions Ombudsman has upheld a police officer, Mr Cherry's complaint that his employer had a duty of care to inform him of the tax implications of re-employment on his retirement benefits.He was employed as a police officer with the Police and Crime Commissioner of South Wales from February 1982, ...
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Supplier article
Dividend slump? Not if you look globally
By George Boyd-Bowman, Manager of the Neptune Global Income Fund Recent research has indicated that global dividend growth will slump by as much as 50 per cent in 2016. As collapsing commodities hit high-profile dividend payers, George Boyd-Bowman explains why the US and Japan are his top picks for income ...
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ArticleA fifth do not expect to retire until after age 70
Just over a fifth of respondents do not expect to be able to retire until they are in their seventies, according to research by Willis Towers Watson.Its Global benefits attitudes survey, which interviewed UK-based 1,895 workers, also found that employees who expect to work for longer are less healthy, more ...
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ArticleKingfisher agrees £230 million pension buy-in
Retail group Kingfisher has completed a £230 million medically underwritten buy-in transaction for its defined benefit (DB) pension scheme.The transaction, carried out by Legal and General, covered 149 specific scheme members from the £3 billion scheme.Aon and Hymans Robertson also advised on the transaction.Chris Gilchrist, chair of the trustee for ...
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Supplier article
Auto-enrolment: tips for employers
The Pensions Regulator (TPR) has released advice on communications for employers, including three tips to help you with your auto-enrolment duties.1. Allow enough time to select your pension schemeIt’s recommended that you start to prepare for auto-enrolment at least 12 months in advance of your staging date; additionally, give yourself ...
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Supplier article
Budget summary - March 2016
This week’s Budget looked as if it would be a difficult one for the Chancellor, with disappointing economic numbers and the need to avoid ruffling feathers ahead of June’s in/out referendum. Nevertheless, Mr Osborne did spring a few surprises, including some tax reductions.So how does this budget affect you? If ...
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Article71% of millennials do not understand their pension investments
More than two-thirds (71%) of millennial respondents do not understand or are unsure about their pension investments, according to research by Barnett Waddingham.Its Generation why? survey 2016, which surveyed 506 employees, also found that 72% of generation X respondents (aged 30-49) do not feel certain about their understanding of pensions ...
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Article19% plan to increase benefits spend in 2016
Around a fifth (19%) of employer respondents plan to increase spend on employee benefits over the next 12 months, according to research by Aviva.Its Working lives report, which surveyed more than 1,000 employers and 4,000 employees in the private sector during the first quarter of 2013 and the first quarter ...
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ArticlePorsche awards €8,911 bonus to staff
Porsche AG is awarding employees a €8,911 (£6,952) bonus in recognition of their role in helping the organisation achieve positive results for 2015.The bonus will be paid to around 15,600 members of staff who are employed under the firm’s collective pay agreement.The 2015 bonus will be adapted according to employees’ ...
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Supplier article
Increase in employers enquiring about imminent changes to pensions tax rules
The imminent changes to pensions tax rules for the Annual Allowance and the Lifetime Allowance has led to a significant increase in enquiries from employers on how this is going to affect their employees, says Jelf Employee Benefits. While the latest thinking is that there may not be any further ...