All Pensions articles – Page 9

  • pension retirement age
    Article

    Just 35% of employees feel confident in choosing how to access their pension

    25 April 2024

    Just over one-third of pension savers (35%) feel confident to make decisions such as choosing how to access their pension when they reach retirement age, according to research by workplace pension scheme provider TPT Retirement Solutions.Its survey of more than 2,500 defined contribution (DC) scheme members also found that a ...

  • Stacking-coins-shutterstock-1846995598-Olivier-Le-Moal
    Analysis

    What should employers look for in a default investment strategy?

    25 April 2024

    Credit: Shutterstock/Olivier-Le-MoalNeed to know:Lifestyling is the optimal solution for defined contribution default strategies.A big trend is to introduce investment in private equity into default funds for young members, to drive returns.The new reporting regime for pension schemes to disclose their investment allocations to UK markets is flawed.Most defined contribution pension ...

  • minimum auto enrolment pension
    Article

    Increasing minimum pension contributions to 12% could boost savings by £95,530

    24 April 2024

    Increasing minimum pension contributions under auto-enrolment from 8% to 12% could result in additional contributions of £10 billion a year in the UK, according to research by Phoenix Group and WPI Economics.The long-term savings and retirement business and economic consultancy’s report Falling behind the curve, which models the cost to ...

  • Lexmark pension buy-in
    Article

    Lexmark completes £46 million pension buy-in

    24 April 2024

    Credit: JHVEPhoto / Shutterstock.comPrinter and image product manufacturer Lexmark has completed a £46 million pension buy-in for its UK division's pension scheme.The deal, which was carried out with insurance and financial services Canada Life and pensions administration, investments and employee benefits provider Broadstone, secures the benefits of all 177 plan ...

  • Public trust pensions industry
    Article

    Public trust in pensions industry increases for fourth consecutive year

    18 April 2024

    Public trust in the pensions industry has increased for the fourth consecutive year, according to research by third-party pensions administrator Trafalgar House.Its annual Trust and confidence index, which surveyed more than 2,000 people aged 18 and above to understand how the British public feel about the pensions industry, asked respondents ...

  • Epson UK pension buy-in
    Article

    Epson UK completes £60 million pension buy-in

    9 April 2024

    Electronics business Epson UK has completed a £60 million pension buy-in for its Epson UK Pension Scheme.The deal, which was carried out with financial services firm Just Group and scheme trustee Dalriada, secures the benefits of 113 pensioners and 289 deferred members. The scheme is sponsored by Epson UK and ...

  • Energizer Group pension
    Article

    Energizer Group completes £44 million pension buy-in

    3 April 2024

    Credit: MAHATHIR MOHD YASIN / Shutterstock.comGlobal battery and lighting brand Energizer Group has completed a £44 million pensions buy-in for its Energizer UK Pension Plan.The deal, which was carried out with financial services firm Just Group and scheme trustee Zedra Governance, secures the benefits of all scheme members, which includes ...

  • Bolt pension scheme
    Article

    Bolt launches flexible pension scheme for private hire vehicle drivers

    26 March 2024

    Ride-hailing operator Bolt is to launch a pension scheme for its 65,000 UK registered private hire vehicle drivers from 1 May 2024.Through the scheme, which is provided by Aviva, drivers will be able to contribute 5% of their fees from every completed trip into their pension pot, to which Bolt ...

  • Single parents lowest average
    Article

    Single parents have lowest average income for both men and women

    22 March 2024

    Single parents have the lowest average income for both men and women, according to research by workplace pension provider Now: Pensions and the Pensions Policy Institute (PPI).The underpensioned: defining the gender pension gap report revealed that single mothers earn 53% less than the average man and 37% less than the ...

  • shutterstock_1535448272
    Supplier article

    National Insurance saving could be used to boost workplace pension

    6 March 2024

    As announced in The Spring Budget, National Insurance (NI) is reducing from 10% to 8% from April 2024. WEALTH at work, a leading financial wellbeing and retirement specialist has run financial education workshops for staff in hundreds of organisations and is encouraging people to consider using this saving in National ...

  • spring-budget
    Article

    Spring Budget 2024: TPR and FCA given powers to enforce Value for Money framework

    6 March 2024

    Spring Budget 2024: The Pensions Regulator (TPR) and the Financial Conduct Authority (FCA) will have a full range of regulatory powers to ensure employers are adhering to the Value for Money (VFM) framework.Chancellor of the Exchequer, Jeremy Hunt, announced the plans in order to address pension schemes that are “persistently ...

  • shutterstock_1727888605
    Article

    Spring Budget 2024: DC pensions required to disclose investment in UK equities

    6 March 2024

    Spring Budget 2024: Jeremy Hunt, Chancellor of the Exchequer, has announced plans to bring forward requirements for defined contribution (DC) schemes and local government pension schemes (LGPS) to publicly disclose the breakdown of their asset allocation in UK equities.The 2024 Spring Budget report stated that across the pensions industry as ...

  • Mark-Ormston-PASA
    Opinion

    Mark Ormston: Is the scrapping of the lifetime allowance a disappearing act or just an illusion?

    5 March 2024

    The lifetime allowance (LTA) is one of those subjects referenced in lots of pension literature, and yet, it only affects a minority of people. With this in mind, imagine the ‘ooohs’ and ‘ahhhhs’ when one of the rabbits out of the 2023 Spring Budget hat was the announcement to make ...

  • Pensions-savings-limit-Natata-shutterstock_211837189
    Analysis

    What do employers need to know about the pensions lifetime allowance abolition?

    5 March 2024

    Credit: Natata/Shutterstock Need to know: The abolition of the pensions lifetime allowance in April will require an overhaul of employee communications, and a revaluation of pension scheme design and administration, including opportunities to simplify the scheme and reduce the cost of running it. Employers will need ...

  • retirement plans pensions
    Article

    49% of staff changed retirement plans due to cost-of-living crisis

    26 February 2024

    Almost half (49%) of working adults have changed their retirement plans because of the cost-of-living crisis, according to new research by the Pensions Management Institute.The professional body that supports and develops UK pension schemes surveyed 2,030 employees with pensions. It found that 24% of respondents have delayed their retirement, 23% ...

  • Spar UK pensions buy-in
    Article

    Spar UK completes £11 million pensions buy-in

    23 February 2024

    Retailer Spar UK has completed an £11 million buy-in transaction for its UK pension fund.The transaction was carried out by Just Group in order to provide a better outcome for members through greater security of their benefits. Before approaching the market, the trustees worked to equalise guaranteed minimum pensions within ...

  • Rashree-Chhatrisha
    Opinion

    Rashree Chhatrisha: Helping staff to achieve better retirement outcomes

    22 February 2024

    The government’s ambition is to drive better outcomes for members of defined contribution (DC) pension schemes to help ensure all savers achieve the best possible retirement.This is a really positive direction for DC pensions as the management of schemes evolves to consider what members will receive in retirement; whether this ...

  • 26_Tim-Pike-resized
    Opinion

    Tim Pike: Could we see a return to defined benefit pensions?

    22 February 2024

    The UK’s private sector defined benefit (DB) pension landscape is generally described as in its endgame. There has been a fall in the number of open DB pension schemes as a result of economic, social and regulatory changes.The vast majority of employers offer a defined contribution (DC) pension to eligible ...

  • pots-for-life plan
    Article

    Half of employers think pots-for-life will increase pensions engagement

    20 February 2024

    Employee Benefits poll: Approximately half (49%) of organisations think the pots-for-life plan will increase employees’ engagement with their pensions, according to a survey of Employee Benefits readers. More than one-third (39%) of respondents said that they do not think that the pots-for-life plan will increase workers’ engagement ...

  • Birmingham Chamber of Commerce
    Article

    Birmingham Chamber of Commerce completes £9 million pension buy-in

    14 February 2024

    Birmingham Chamber of Commerce, which supports local businesses, has completed a £9 million pension buy-in.The transaction, which was brokered by financial services consultancy Quantum Advisory, which was also the scheme actuary and lead transaction and investment adviser, will provide improved benefit security to around 100 pensioners and 40 deferred members.The ...