All Pensions articles – Page 85
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ArticleTake 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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ArticleGovernment 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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ArticleFCA 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 StudiesGerald 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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OpinionTim 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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ArticleMarks 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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AnalysisHow 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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ArticleEXCLUSIVE: 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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ArticlePirelli 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 ...
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ArticleGovernment consults on pensions advice allowance
The government has launched a consultation on whether defined contribution (DC) pension members should be able to access their retirement funds early to pay for financial advice.The consultation, which will run for eight weeks until 25 October 2016, focuses recommendations by the Financial Advice Market Review (FAMR), announced in the ...
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ArticleRichard Harrington commits to continuing key pension reforms
Since Richard Harrington’s appointment as parliamentary under secretary of state at the Department for Work and Pensions in July 2016, there has been much industry speculation about his priorities and commitment to existing pension reforms and proposed changes.Harrington stepped in to the role previously filled by Baroness Ros Altmann in ...
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Article75% of DC pension savers will retire on inadequate income
Post-Brexit, the proportion of savers into a defined contribution (DC) pension scheme who will retire on an inadequate income has risen to 75% from 66%, according to research by Hymans Robertson.Its analysis of data of 500,000 savers on the organisation's Guided Outcomes platform also found that the cost of providing ...
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Article5% of FTSE 250 still provide defined benefit pensions
The total deficit of defined benefit (DB) pension schemes in FTSE 250 organisations has reached £11 billion, according to research by JLT Employee Benefits.Its FTSE 250 and their pension disclosures half-yearly report, which analyses data of annual reports for years ending on or before 31 December 2015 and published by ...
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ArticleEXCLUSIVE: 36% have not reviewed core benefits in the last two years
Just over a third (36%) of respondents have not reviewed their core benefits offering in the last two years, according to research by Hargreaves Lansdown.Its study of 350 employers also found that only 13% of organisations that provide flexible benefits do not operate salary sacrifice arrangements, or if they do, ...
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OpinionJill Clucas: How Brexit could affect pension schemes
Funding levels in defined benefit (DB) occupational pension schemes have caused immediate concern, with falling gilt yields increasing deficits significantly. Employers with open DB schemes may consider the Brexit vote the trigger to replace DB accrual with a defined contribution (DC) arrangement for the future.Also important is the financial strength, ...
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ArticleIbstock consults on closing defined benefit pension scheme to future accrual
Brick manufacturer Ibstock is consulting staff on a proposal to close its defined benefit (DB) pension scheme to future accrual for all active members.The consultation process, which began last week, will liaise with approximately 40% of the organisation’s UK employees, lasting for a minimum period of 60 days.According to Ibstock's ...
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Article60% who have used pensions freedoms unsure how to fund future care
Less than two-thirds (60%) of respondents who have accessed their pension since the pension freedoms were introduced in April 2015 have not thought about how they will pay for future care needs, according to research by Citizens Advice.Its survey, which polled 501 British adults aged 55 or over who have ...
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Analysis
Video: Tim Middleton - Mitigate the risk of pension scams
Tim Middleton, technical consultant at the Pensions Management Institute, talks about:What is the latest court ruling around pension scams?What do employers need to be aware of around pension scams?What resources are available to help employers educate employees about pension scams?What obligation do employers have to educate employees about the risk ...
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ArticleEXCLUSIVE: 74% offer salary sacrifice pension arrangements
EXCLUSIVE: Almost three-quarters (74%) of employer respondents enable staff to contribute into their defined contribution (DC) pension scheme via a salary sacrifice arrangement, according to research by Employee Benefits and Xerox HR Services.The Benefits research 2016, which surveyed 338 employer respondents, also found that two-thirds (66%) of respondents offer a ...
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Video
What is next for workplace savings?
The eight minute video above, presented by Miranda Seath, senior researcher at Platforum, and Jeremy Fawcett, head of direct at Platforum, covers: What are the key developments affecting workplace savings and why are they important?What are the drivers for improved employee engagement in workplace saving?What new digital forms of advice ...