All Pensions articles – Page 87
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OpinionGeorgina Beechinor: Home is where the start is in pensions auto-enrolment case
One qualifying criteria for pensions auto-enrolment is that, under their contract, an individual is a “worker”, “who is working or ordinarily works in Great Britain”. The UK Pensions Regulator (TPR) has power to issue compliance notices to employers that fail to comply with this requirement.In the case of The Queen ...
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Supplier article
Pension tax relief: parked (for the moment)
The national news agenda has been dominated by pension issues this month.For those that missed it (and there cannot have been many given that this was the lead story in spoken and written media), the Chancellor announced a decision to make no decision on pension tax relief in his 16March ...
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Article79% used existing workplace pension scheme for auto-enrolment
Around three-quarters (79%) of respondents that already have a workplace pension scheme in place opted to use their existing scheme for auto-enrolment, according to research by the Department for Work and Pensions.Its Employers’ pension provision survey 2015, which is based on a survey of 3,008 private sector employers, also found ...
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Article23% have yet to review schemes in light of pension freedoms
Almost a quarter (23%) of respondents have yet to review their pension scheme investment strategy since the pension freedoms were introduced in April 2015, but plan to do so this year, according to research by Willis Towers Watson.Its Pension design survey, which surveyed 160 of the UK’s largest organisations, also ...
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ArticleRolls-Royce introduces financial education and engagement strategy
Rolls-Royce has implemented a financial education and employee engagement strategy to engage employees with saving for retirement, and switched pension scheme providers.The strategy, which includes financial education presentations and access to an online platform, is designed to help employees take control of their finances.The aerospace power systems manufacturer introduced the ...
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ArticleGain insight into balancing benefits and financial wellbeing at Employee Benefits Connect
Those who attend Employee Benefits Connect 2016 can gain insight into how employee benefits could potentially harm employee’s financial wellbeing, as well as the measures that can be taken to address this, in a session led by Darren Laverty (pictured), partner at Secondsight.During the conference session, Laverty will discuss the ...
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Supplier article
Pension savings: Out of the woods?
Last week HM Revenue & Customs published some encouraging figures regarding the levels of pension savings in the UK. For a brief account of this issue please see here.These figures have been interpreted by some as evidence of a newly improved savings culture, and the fact that savings rates have ...
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Supplier article
The national living wage and salary exchange
Most individuals aged 25 or over on the national minimum wage (NMW) will see their salary increase by 50 pence per hour from 1 April 2016.This article provides more information on how this change affects salary exchange arrangements.Who does this change affect?Individuals aged 25 and over with salary exchange arrangements ...
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ArticleOmbudsman upholds pensions tax complaint against police
The Pensions Ombudsman upheld a complaint against the Police and Crime Commissioner of South Wales over its failure to inform a police officer of the tax implications of re-employment on his retirement benefits.The police officer, Mr Cherry, retired in June 2011 and was re-employed by the Commissioner within one month ...
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Supplier article
Financial Advice Market Review - support for advice
By Fiona Tait, Pension SpecialistRoyal London firmly believes in the value delivered to clients by financial advisers, not just for one-off events but on an ongoing basis.This is a position we continue to hold in our consultation responses and external communications while always questioning whether there are ways in which ...
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Supplier article
Employer fined more than £10,000 for auto enrolment failings
By Jamie Clark, Business Development ManagerWe take a look at the Pensions Regulator’s latest auto enrolment compliance bulletin and the lessons that can be learned from it.With up to half a million smaller employers expected to reach their staging date during 2016, it’s likely that the Pensions Regulator (and the ...
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Supplier article
Johnson Fleming is a finalist in UK Pensions Awards 2016
Johnson Fleming has been announced as a finalist in the Employee Benefits Consultancy of the Year category.The Employee Benefits Consultancy of the Year is a new category for the 2016 UK Pensions Awards, due to the increasing role that consultancy is contributing to this area.Johnson Fleming was established in 2002, ...
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Supplier article
What will it take for India to become an absolute winner?
By Kunal Desai, Manager of Neptune India FundKunal Desai recently celebrated his third anniversary as manager of the Neptune India Fund. Kunal has built a strong track record of outperformance since he assumed responsibility for the Fund, delivering a return of 30.3 per cent ompared to the MSCI India Index ...
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Supplier article
Why payroll software may not be the answer for auto-enrolment
Many believe that their payroll software will manage their auto-enrolment requirements either directly or via their accountant.Most payroll software can deliver this but it needs to be established correctly in the first place and there is increasing evidence derived from audits we have conducted that this does not happen.The types ...
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ArticleGain insight into the future of master trusts at Employee Benefits Connect
Delegates who attend Employee Benefits Connect 2016 will have the opportunity to gain insight into the future of master trusts in defined contribution (DC) pension provision in a conference session hosted by Willis Towers Watson.During the session, Fiona Matthews managing director of Life Sight at Willis Towers Watson and Richard ...
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Article55% take an active interest in their pension savings
More than half (55%) of respondents take an active and regular interest in their pension savings, according to research by chartered accountant and business adviser Price Bailey.Its Workplace pensions: the members’ perspective report, which surveyed 2,017 pension scheme members, also found that 42% of respondents do not know whether they ...
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Video
Ways to see your pension and benefits as a profit centre for your business
The six-minute video above covers: What is meant by profit centre versus cost centre employers?What do profit centre employers typically care about?What areas should profit centre employers focus on?How can providers help profit centre employers with workforce management?What are the key features of a great default investment?To watch the same ...
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AnalysisTelent futureproofs its default investment strategy
Futureproofing its default investment strategy against potential legislative change was a key objective for technology services firm Telent. However, when it introduced its current arrangement in 2013, it could not have predicted just how radical the pension reforms that took effect from April 2015 would be. And while built-in flexibility ...
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AnalysisAssessing the limitations of the pensions allowance changes
On 6 April 2016 changes to both the annual and lifetime pensions allowance limits will come into effect. From this date, the annual allowance will be gradually reduced from £40,000 to £10,000 for those earning between £150,000 and £210,000 a year, while the lifetime allowance will reduce from £1.25 million ...
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Article70% are against changing the current pensions tax relief system
More than two-thirds (70%) of employer respondents do not think that the current pension tax relief system should change, according to research by Hargreaves Lansdown.Its survey of employers also found that 41% of respondents are considering new reward strategies for their highest earners.The research also found:76% of respondents believe that ...