All Pensions articles – Page 89
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AnalysisHow will the changes to the lifetime and annual allowances affect higher earners?
Need to know:The lifetime allowance for pension contributions will be reduced from £1.25 million to £1 million from 6 April 2016.From April 2016, those earning between £150,000 and £210,000 a year will face a tapered annual allowance for tax relief from £40,000 to £10,000.Communication can be used to ensure that ...
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OpinionTim Middleton: Striking the right balance with pension communications
The new tax year sees yet another adjustment to the rules governing tax relief for registered pension schemes. As the current regime celebrates its tenth anniversary, one of its principal objectives, a simplification of the tax rules, now seems a cruel and ironic joke. There will now be no fewer ...
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Supplier article
The EU referendum and employee benefits
Unless you have been closed off from the media for the entire weekend, you will now be aware that a national referendum on the UK’s continued membership of the European Union is scheduled for the 23 June 2016. Most people would agree that this date has the potential to be ...
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Supplier article
UK Google searches for ‘pensions freedoms’ up by 913% during 2015, says Jelf Employee Benefits
Jelf Employee Benefits has identified that UK Google searches for the term ‘pensions freedoms’ (and three other variants with and without plurals) have increased by 913% during 2015. The employee benefits consultancy believes that pensions freedoms have really struck a chord with the UK public and certainly helped raise awareness ...
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ArticleHSBC reduces executives' pensions payments to 30% of base salary
HSBC has reduced the amount of cash executive directors receive in lieu of pensions from 50% to 30% of base salary.The change to executive directors' remuneration policy came into effect from January 2016. The change follows concerns raised by investors.The lower pensions payments for executive directors also reduces their fixed ...
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Article92% falling behind on retirement savings targets
The majority (92%) of respondents are falling behind on their retirement savings targets, according to research by Aegon UK.Its UK readiness report, which surveyed 4,000 UK adults, also found that 22% of respondents are unaware of how many pension pots they have.The research also found:More than a third (37%) of ...
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Video
The April 2015 pension changes – almost one year on
The six-minute video above covers:How much has actually changed almost one year on from the April 2015 pension reforms?Have employers adapted to the changes?What are the key things that employees need to know?What do employers need to do to prepare employees for retirement?To watch the same tutorial in smaller segments, ...
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ArticleJust 3% help staff understand the changes to lifetime and annual allowance limits
Just 3% of employer respondents are helping their employees to understand the changes to lifetime and annual allowance limits that come into effect in April 2016, according to research by Close Brothers Asset Management.The Close Brothers business barometer, which surveyed 917 employers, also found that 14% of respondents offer retirement ...
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Supplier article
How employees could avoid losing their pension to scams and fraudsters
The Pensions Advisory Service (TPAS) has recently launched a new campaign warning people about the threat of pension scams. In light of this, WEALTH at work, a leading provider of financial education in the workplace, supported by guidance and advice, shares their top tips on how employees could avoid losing ...
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Article69% make employer pension contributions of 6% or less
More than two-thirds (69%) of respondents offer a contribution of 6% or less of earnings to their employees' pension savings, according to research by Punter Southall Aspire.Its survey of 106 employers also found that 81% of respondents contribute less than 10% of earnings to their employees' retirement savings.The research also ...
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Supplier article
An unbelievable investment opportunity!
Incredible returns and amazing growth in alternative investments. Who wouldn’t want that for their pension benefits? But all is not as rosy as it may seem, explains Gary Crockford, Head of Knowledge and ResearchCape Verde is a country comprising a number of islands some 500km off the West Coast of ...
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ArticleScottish Power introduces retirement savings portal
Scottish Power has introduced an online portal to help its employees meet their retirement saving goals.The portal, provided by Hymans Robertson, enables the 2,500 members of Scottish Power's defined contribution (DC) pension scheme to set a retirement income target and helps them to make informed decisions to meet that target.Around ...
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ArticleWinners of the Corporate Adviser Awards 2016 announced
Employee Benefits’ sister publication, Corporate Adviser, announced the winners of its annual awards last night (11 February) at the Lancaster London, hosted by comedian Danny Wallace (pictured).Aon was named firm of the year at the ceremony, as well as being awarded for Best use of technology by a corporate adviser.The ...
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Supplier article
Tapering of annual allowance – adjusted and threshold incomes
By Jim Grant, Senior Product Insight & Technical Support AnalystThe definitions of adjusted income and threshold income used to determine whether, and to what extent, someone’s annual allowance will be reduced can be confusing. Here we try to make sense of it all.The annual allowance will be reduced for high ...
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Supplier article
Do your employees know how much income they will need in retirement?
It is very important for employees to save towards retirement and of course many are not saving enough. However, some may not need as much as they think according to WEALTH at work, a leading provider of financial education, guidance and advice in the workplace.For some individuals once they retire, ...
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Supplier article
Top 10 tips for retirement planning
Employees who are approaching retirement and have a defined contribution (DC) pension now have a lot of decisions to make thanks to the pension changes.They have to decide whether they want an annuity, drawdown, to take a cash withdrawal or a combination of options; when they want to take their ...
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Supplier article
Pension tax allowances breakfast seminar
The pension tax allowances are changing (again). Nobody wants to be stung with an unexpected tax bill or fine. But if you don’t know an employee’s total income, what can you do to help prevent it?Due to exceptional demand for this hot topic we have added an additional date to ...
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Supplier article
UK Mid Cap: navigating market volatility
By Mark Martin, Head of UK Equities at Neptune Investment ManagementRecent UK GDP figures indicated that the economy is in good health, with a 0.5% rise in GDP in the final quarter of 2015. Whilst the GDP growth rate fell from 2.9% in 2014 to 2.2% in 2015 as a ...
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ArticleUS court proceeds with FedEx pension case
In January 2016, a US District Court Judge allowed a pension benefits claim brought by the same-sex widow of a FedEx employee to proceed while dismissing two other claims by the plaintiff.In the case of Stacey Schuett v. FedEx Corporation et. al., the plaintiff, Stacey Schuett, was in a relationship ...
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ArticleCompliance news at a glance: January 2016
High Court rules peripatetic staff are eligible for auto-enrolmentThe High Court has ruled that peripatetic workers are eligible to be auto-enrolled into a workplace pension scheme, after Fleet Maritime Services (FMSB) challenged the Pension Regulator’s (TPR) approach and guidance on peripatetic workers. bit.ly/1OTzx1tUS court rules on back-pay case for unpaid ...