All Pensions articles – Page 9
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Supplier articleSUPPORTING NEW PARENTS: REGULATIONS & SAVINGS
EMPLOYEE EXPERIENCE SERIES: SUPPORTING NEW PARENTS: REGULATIONS & SAVINGS In our second blog dedicated to supporting parents in the workplace, we cover some statutory regulations supporting working parents. Detailing the costs parents face, we also explore how they can use their employee benefits to save money on ...
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ArticleBT Pension Scheme completes £5 billion pension longevity swap
Telecommunications firm BT’s pension scheme has entered into a longevity reinsurance arrangement with Reinsurance Group of America (RGA), which covers £5 billion of pensioner liabilities.The transaction protects the private sector pension scheme, which has around 270,000 members and £47 billion of assets under management, from the cost of unexpected increases ...
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Supplier articleBoost your bottom line: The hidden value in rethinking workplace pensions
Consider this - are you unwittingly disposing of chunks of your income that you worked hard for? Sounds absurd, doesn't it? But your organisation might be doing just that because the set-up of your workplace pension scheme has kept you blissfully unaware.Pension contributions by employers are great in principle, fostering ...
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ArticleHigh Court rules BBC cannot change pension to cut future benefits
The High Court has ruled that the British Broadcasting Corporation (BBC) cannot modify its £19.8 billion pension to cut future benefits for plan members but can make other changes without employees’ consent.The case explored the treatment of future service benefits under the BBC pension scheme, which provides retirement benefits on ...
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ArticleMitchells and Butlers completes £1.2 billion pension buy-in
Restaurant, pub and bar operator Mitchells and Butlers has completed a £1.2 billion bulk purchase annuity transaction for its pension scheme.Standard Life, which is part of Phoenix Group, began the transaction in May this year. It covered deferred members and pensioners and secured the retirement incomes of around 20,200 scheme ...
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Supplier articleUnlock the Power of Pensions: A Guide to Switching Workplace Pension Provider
Considering a shift in your workplace pension provider? That's a bold step towards ensuring your most expensive employee benefit is truly rewarding.The pension plan you offer should mirror your company's brand. It's an effective means to make your employees feel cherished, and choosing the appropriate workplace plan can significantly enhance ...
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Supplier articleChoosing the best workplace pension for your business
Benefits of choosing the best workplace pensionThe responsibility of setting up or changing your workplace pension scheme can appear like a daunting task, but it's worth considering some of the potential benefits to make the process less intimidating:Staff retention could improve: Proper implementation of your workplace pension can enhance employee ...
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ArticleLondon Underground strikes over pension changes suspended
Several strike dates due to take place on the London Underground have been suspended following negotiations about potential reforms of Transport for London's (TFL) pension scheme.After a week of negotiations with the Advisory, Conciliation and Arbitration Service (Acas) the Aslef Executive Committee and trade union RMT agreed to suspend the ...
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ArticleSmart Pension acquires Evolve Pensions
Workplace pension provider Smart Pension has acquired workplace pension services Evolve Pensions, owner of master trust the Crystal Trust.The aim of the acquisition is to improve experience and provide efficiencies for the Crystal Trust’s employers and members, enabled by cloud-based global technology platform Keystone, which was developed by Smart Pension’s ...
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AnalysisWhat impact will the living pension initiative have on employees’ retirement outcomes?
As a voluntary savings target, the living pension initiative sets out the minimum annual contribution needed to afford basic living costs in retirement.Employers should ensure that employees who increase their contributions in line with this are not saving at a rate they cannot afford.Organisations should engage employees in their future ...
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Case StudiesHerbert Smith Freehills supports employees’ future with living pension
When law firm Herbert Smith Freehills was approached about taking part in the living pension pilot, it was keen to support what it saw as a vital initiative not just for its own employees, but for society in general.Operating from 25 offices across the Asia Pacific, Europe, Middle East and ...
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Article20% of DC pensions see rises in opting out or reducing contributions
A fifth (20%) of defined contribution (DC) pension schemes continue to report increases in members opting out or reducing contributions, according to research by Aon.Its DC today survey, which is based around a regular pulse survey designed to track how DC schemes and their members are reacting to the current ...
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ArticleGovernment announces DC pension scheme reforms
Nine of the UK’s largest defined contribution (DC) pension providers have come to an agreement with the government to improve pension schemes.Under the Mansion House Reforms, announced by Chancellor of the Exchequer Jeremy Hunt, the providers have committed to allocating 5% of assets in their default funds to unlisted equities ...
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Supplier articleShould spare cash be used to reduce mortgage debt or increase pension savings?
By Jonathan Watts-Lay, Director, WEALTH at work“When it comes to securing our financial future there are often a number of decisions that must be made. A financial dilemma that many people consider is whether to prioritise reducing their mortgage debt or whether to increase the amount they pay into their ...
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Supplier article5 Reasons your workplace pension plan may be undermining your business (and why you should review it)
You’ve got a company pension scheme in place, so what would prompt you to change it? It might seem like a monumental task, especially when you already have myriad other responsibilities.However, there's a strong reason to do so: your business and employees may be at risk if you don't take ...
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Supplier articleYour Workplace Pension: Is It Really Benefiting Your Business?
How would you feel if you discovered your company was unintentionally wasting a significant portion of your salary? We’re guessing you’d be pretty angry and upset about it.But your workplace pension setup could be causing this wastage right under your nose, without you even being aware.Workplace pension contributions are fantastic ...
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AnalysisWhat impact will CDC pensions have on employers’ retirement provisions?
Need to know: Collective defined contribution (CDC) pensions potentially offer a more sustainable way of funding pensions and reducing pension liabilities for some employers. Their potential to provide a more secure and predictable retirement income for employees could help to close the retirement savings gap that ...
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Supplier articlePaying off a mortgage or paying into a pension?
With interest rates on the rise, we often get asked at our financial education sessions, is it best to pay off your mortgage or pay into your pension?Jonathan Watts-Lay, Director, WEALTH at work, a leading financial wellbeing and retirement specialist - helping those in the workplace to improve their financial ...
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Article19% of staff feel completely or somewhat prepared for retirement
Just under one in five (19%) of employees aged between 32 and 40 feel completely or somewhat prepared in terms of how they will fund their retirement, according to new research.Pension provider Aviva worked with UK economics consultancy WPI Economics on its new report Planning for retirement in the 2050s. ...
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OpinionMel Duffield: Could conditional indexation deliver high value pension benefits?
There has been much recent discussion in the UK about whether there are new ways of sharing pension risks. These might potentially give greater stability of outcome and cost than the current very distinct alternatives of either defined benefit (DB) or defined contribution (DC) pension schemes.Much of this discussion has ...