All Pensions articles – Page 89
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AnalysisThe Pensions Regulator should consider British Home Stores’ demise a wake up call
Need to knowThe Pension Protection Fund caps its compensation.Up to 600 UK pension schemes will never pay full benefits.A pension scheme must not adversely impact an employer’s sustainable growth.The Pensions Regulator (TPR) is under renewed pressure to support employers with large pension scheme deficits following the collapse of British Home ...
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Case StudiesSAS Software offers choice and support to staff
For SAS Software, a key component of its benefits philosophy is that it offers its employees choice to enable them to pick benefits that support them throughout their career, while retaining a sense of being a paternalistic employer.Its UK headquarters, situated on a 110-acre estate on the bank of the ...
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Article58% value phased retirement globally
More than half (58%) of global respondents feel that phased retirement is a very or extremely important occupational benefit, according to research by the Aegon Centre for Longevity and Retirement (ACLR) and the Transamerica Centre for Retirement Studies.The A retirement wake-up call: the Aegon retirement readiness survey 2016 report, which ...
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ArticleGovernment consults on British Steel pension scheme
The government has launched a consultation into potential government support options for the British Steel pension scheme.The defined benefit scheme has approximately 130,000 members, with assets and liabilities totalling around £14 billion.The consultation aims to determine the best course of action, if any, that the government could take as part ...
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Supplier article
High Court ruling could open the floodgates to pension scammers
Until recently, pension providers had wider powers to refuse to make a transfer if they had concerns about where it was going. This acted as a major line of defence in preventing pension scammers from accessing individual’s pensions and savings.However earlier this year, the High Court overturned a Pensions Ombudsman ...
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Supplier article
Workplace pension workshops – learn from the experts
A series of Workplace Pension Workshops will be taking place throughout the UK over the next couple of months. With over 5,600 compliance notices issued in the last 6 months alone from The Pensions Regulator, these events are a must-attend if you're in the process of dealing with your Workplace ...
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ArticlePension exit charges under scrutiny
Exit charges on occupational pension schemes could be scrapped as part of new proposals launched by the Department for Work and Pensions (DWP).The proposals aim to introduce a charging cap to allow employees early access to their retirement funds without suffering high penalty charges.The long-term aim of the proposals is ...
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ArticleScottish Widows completes £54m bulk annuity transaction
Scottish Widow has secured a £54 million pensioner buy-in arrangement with the Barloworld UK Pension Scheme.The buy-in covers a portion of the scheme’s pensioner liability and is a continuation of the global distributor's de-risking strategy.This transaction signals the second bulk annuity transaction for Scottish Widows. The pensions provider secured a ...
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Supplier article
Lisas, pensions and the auto-enrolment secondary market
Delegates at the recent Corporate Adviser roundtable event argued the topics of ending of commission, the third-year anniversary for automatic re-enrolment and the raised profile of governance, and if they were likely to be factors in leading to a vibrant secondary auto-enrolment market.Johnson Fleming Senior Consultant Robert G Kingston was ...
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Supplier article
Guide to Auto-Enrolment
It’s unlikely you haven’t already heard about automatic enrolment, but for those who haven’t, auto-enrolment is a new requirement imposed on employers in the UK under the pension reform laws. UK employers must therefore enrol eligible jobholders into a qualifying pension scheme and make the required minimum contributions into their ...
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ArticleVolkswagen to increase base pay by 4.8%
Volkswagen is to increase base pay for 120,000 employees by a total of 4.8% by August 2017.The collective agreement, which follows negotiations with trade union IG Metall, will be implemented in two stages; a 2.8% pay rise will occur on 1 September 2016 and a 2% pay increase will come ...
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Supplier article
Employee education: let them know about their pension and benefits
This week is Learning at Work Week, which is the perfect opportunity to address whether you’re doing everything you can to educate employees on the workplace pension and/or employee benefits that you offer. We think it’s vital to ensure that your workforce is kept informed and engaged.When was the last ...
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ArticleEXCLUSIVE: 76% of Oxford BioMedica staff engage with pensions online after benefits revamp
EXCLUSIVE: More than three-quarters (76%) of Oxford BioMedica employees have registered to view their pension online following a revamp of its employee benefits programme.In September 2015, the gene and cell therapy organisation, which employs more than 180 staff, expanded its pension and financial education support offering with the introduction of ...
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Johnson Fleming is a finalist at UK Pensions Awards 2016
The UK Pensions Awards shine the light on excellence and recognise the advisers, providers and investment managers that offer the highest level of innovation, performance and service to occupational pension schemes and their members.This year’s awards looked at advisers and providers across 31 different categories and were rigorously judged by ...
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ArticleGovernment to legislate for increased master trust protections
The government is to introduce additional measures to protect members of master trust pension schemes through a new Pensions Bill.The Pensions Bill was unveiled in background briefing documents following the Queen’s Speech in the Houses of Parliament yesterday (18 May).Under the proposals, master trusts would be required to demonstrate that ...
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Supplier article
A guide to automatic re-enrolment
Since the introduction of auto-enrolment in 2012, it has been a popular topic in the press. Recent media focus has been geared towards small and micro employers; however attention is set to return to the UK’s largest businesses as they prepare for re-enrolment.Johnson Fleming has produced a useful guide that ...
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Article32% who opt out of workplace pension blame financial constraints
Around a third (32%) of employee respondents cite financial constraints as the key reason for choosing not to pay into their workplace pension, according to research by Aviva.Its Working lives report, which is based on a survey of 990 private sector employers and 4,021 private sector employees and an analysis ...
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Article40% feel let down by lack of access to financial advice
Four in ten (40%) respondents feel let down if their employer fails to support them with access to advice on their pensions and future finances, according to research by online pension advice provider Wealth Wizards.Its survey of 1,000 UK employees also found that two-thirds (67%) of respondents believe it is ...
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AnalysisFive key messages to communicate around pensions re-auto-enrolment
Need to knowPensions re-enrolment happens at an employer’s three-year staging date anniversary.Explain the change early, highlight what those employees are outside of the scheme have been missing out on but make it clear they can stay opted out, although they must actively say so.Keep messages bite-sized, accessible and relevant.Given the ...
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AnalysisWhat will the lifetime Isa mean for employers and staff?
A Lisa is a Lifetime individual savings account (Isa) and it is a new way to save from post-tax income, coming in April 2017. It is aimed at those targeting their first home purchase. It comes with an incentive, similar to a pension, where the government will give a top ...