All Pensions articles – Page 90
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Case StudiesKnight Harwood embraces auto-escalation
Construction firm Knight Harwood’s group personal pension scheme started with a contribution basis of 3% and 3% and introduced the concept of auto-escalation, through what it calls the Pension Increase Pledge (Pip). This gives members the option to commit to increase their pension savings by 1% each year for a ...
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Why employees should be wary of robo advice
While the pension changes are good news, without financial education and advice employees are vulnerable, not just to the headline grabbing scams, but to paying unnecessary tax, using the wrong assets for income in retirement, and ultimately not making the right decisions.The Pensions and Lifetime Savings Association research of over-55s ...
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Seeking quality in uncertain markets
By Ewan McAlpine, Senior Client Portfolio ManagerIn uncertain times, investors naturally seek safety. But in fixed income markets, what does that really mean? Ewan McAlpine outlines the approach RLAM’s Fixed Income Team will be adopting across its credit funds in response to potentially volatile markets this year.Click here for full ...
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Employees unable to make the most of Pension Freedom because of their employers
The vast majority of employers have not reviewed their pension offering in light of Pension Freedom; they struggle with how to manage the implications; and do not believe their employees understand the new flexibilities: reveals research from Jelf Employee Benefits.Pension Freedom, in force since April 2015, allows new permissions related ...
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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 compared to the MSCI India Index ...
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Article39% say financial struggles affect their performance at work
More than a third (39%) of respondents say their financial struggles prevent them from performing at their best at work, according to research by Willis Towers Watson.Its 2015 global benefits attitudes study, which surveyed 29,629 employees in 19 countries, including 1,895 in the UK, also found that almost three-quarters (71%) ...
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Pensions Management Institute partners with WEALTH at work to tackle lack of financial education in the workplace
The Pensions Management Institute (PMI) has announced its new partnership with WEALTH at work, a leading provider of financial education in the workplace, supported by guidance and advice. As PMI’s new Expert Partner, WEALTH at work will provide expert commentary to help PMI members to understand the issues and trends ...
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Article31% say reduction in tax relief causes higher earners to leave workplace pension schemes
Around a third (31%) of employer respondents say the reduction in pensions tax relief and complexities of the workplace pensions regime have caused employees on higher incomes to leave their pension schemes, according to research by the Association of Consulting Actuaries (ACA).The research, which surveyed 477 employers responsible for more ...
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AnalysisBack to basics on lifestyle strategies
Need to know:Lifestyle funds gradually move an employee away from high-risk, high-return assets into lower-risk, lower-return assets as they approach retirement.Following the introduction of the pension freedoms, fewer people are buying an annuity, which raises the question of whether lifestyle funds are an appropriate default strategy.With the introduction of the ...
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Article63% actively considering how to access pension savings through the freedoms
Almost two-thirds (63%) of respondents are actively considering how to access their defined contribution (DC) pension savings through the flexibilities that came into effect in April 2015, according to research by the Pensions and Lifetime Savings Association (PLSA).Its Pension freedoms: no more normal report, is based on a survey of ...
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ArticleGovernment consults on simplifying auto-enrolment process
The government has launched a consultation to gain views on its proposals to simplify the administration process of auto-enrolment.The draft regulations aim to reduce the burden on employers and ensure that those who benefit most from saving into a pension will continue to be auto-enrolled without unintended consequences for individual ...
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A conscious impact
Employees need to understand when they need education and advice around their pension decisionsAs the pensions market stands, employees still don’t really understand their options around freedom and choice – which could mean that they make the wrong choices or end up with a huge tax bill. Many want to ...
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Secure in the knowledge
Many employees struggle to understand various financial issues that may relate to them and often fail to understand the many benefits on offer in the workplace. I believe employers can help to improve an employees’ financial wellbeing by providing them with the knowledge needed to make informed financial decisions, so ...
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WEALTH at work’s Pension Resolutions
2015 has seen significant changes to the pensions’ landscape, such as the introduction of complete flexibility on how to access their defined contribution (DC) pensions.WEALTH at work, a leading provider of financial education in the workplace, supported by guidance and advice, has created a list of ‘Pension Resolutions’ that all ...
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ArticleGovernment to enforce pension member-borne commission ban from April
The government is to place a regulatory duty on pension service providers to prohibit member-borne commission charges for workplace pension schemes from April 2016.In October 2015, the Department for Work and Pensions (DWP) launched a consultation into the most effective means of regulation to prevent members of pension schemes that ...
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Every silver lining has a cloud…
In recent weeks there has been much media coverage of possible pension announcements by The Chancellor in the forthcoming March Budget. Our followers will be aware that a review of the tax relief system for pension savings was announced in the July 2015 Budget statement, and the outcome of this ...
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Case StudiesUniversity of Lincoln offers tailored financial education to staff
The combination of pensions freedoms, reforms to the Universities’ Superannuation Scheme (USS) and The Teachers’ Pension, relatively low pay awards in recent years and the fact more academic staff now work on a sessional or contract basis means there is a huge education piece to be had around finance and ...
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ArticleOmbudsman upholds pensions tax duty-of-care complaint against police
The Pensions Ombudsman has upheld a police officer's complaint that his employer had a duty of care to inform him of the tax implications of re-employment on his retirement benefits.Mr Cherry was employed as a police officer with the Police and Crime Commissioner of South Wales from February 1982, and ...
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What you need to know: pension re-enrolment
Since the introduction of auto-enrolment in 2012, it has been a popular topic in the press. Recently media focus has shifted towards small and micro employers; however attention is set to return to the UK’s largest businesses as they prepare for re-enrolment.This guide aims to provide essential information to help ...
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AnalysisInfographic: Employees' views about the impact of workplace pensions
An infographic outlining employees' views about how workplace pensions impact them (Source: Workplace pensions report 2015, Scottish Widows, September 2015).Read more about how to differentiate a pensions offering to attract talent.