All Pensions articles – Page 92
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AnalysisHow to create a benefits strategy for an 'ageless' workforce
Need to know:Workplaces are becoming increasingly multi-generational.But this does not necessarily mean employee benefits should also become increasingly segmented and generation-specific.The answer is likely to lie more in segmentation and targeting of benefits communications than employee benefits themselves.Many workplaces are becoming ever more age-diverse as the working population ages, and ...
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Article23% have seen retirement plans impacted by low interest rates
Just under a quarter (23%) of respondents expect to have to work past the age of 65 due to the impact of low interest rates on their retirement savings, according to research by Canada Life Group Insurance.Its survey of 855 full and part-time employees found that among this group, 16% ...
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Supplier article
Johnson Fleming forms partnership with The Health Insurance Group
Johnson Fleming has formed a strategic partnership with The Health Insurance Group (THIG) to assist its clients with auto-enrolment.The government's auto-enrolment scheme has been rolling out since 2012 and has now reached SME employers with 50 or fewer employees. This is a group that is well represented amongst THIG clients ...
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Supplier article
Do you remember pensions simplification?
Today is an important anniversary in the world of pensions. For 10 years ago this very day we entered the brave new world of pensions “simplification”.Many of our followers will of course be unaware of this landmark change, or indeed what it was trying to achieve. So we thought a ...
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Supplier article
Financial education is vital for all employees
Although changes to pension tax reliefs have been scrapped for now, there are still changes that have been made to pension legislation that can affect many employees. The changes to the Lifetime Allowance and Annual Allowance could impact employees who don’t even realise they will be affected. Many employees may ...
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Supplier article
Blindly purchasing retirement products can have dangerous consequences
The pension freedoms changed the face of retirement income options for members of defined contribution (DC) schemes. And one year on, there has been little innovation in the market in terms of new retirement products. However, many are expecting an influx of offers now that the market has had time ...
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OpinionMichelle Cracknell: A new approach is required to help people plan for retirement
The pension landscape has undertaken a massive rebuild in order to be sustainable in our ageing society. The topping-out ceremony was the pension freedoms introduced from April 2015. Now, we need to make the new pensions infrastructure habitable for members so they can properly plan for retirement, making informed choices ...
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Case StudiesScottish Power introduces tool to help staff understand retirement outcomes
Energy firm Scottish Power has two defined benefit pension schemes, with some 4,000 members but, since 2006, has required all new employees to join a defined contribution (DC) stakeholder pension, provided by Fidelity. This currently has around 2,500 members.In February, the organisation introduced a new tool, called Guided Outcomes, provided ...
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AnalysisHow can employers help staff maximise their options under the pension freedoms?
Need to know:Some employers have adjusted their pension schemes in response to the pension freedoms, and others are investing more time and effort in offering financial education.While some, often wealthier and more financial savvy, employees have taken advantage of the new freedoms, many others are struggling to navigate the new ...
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AnalysisUnderstanding pensions governance
From April 2015, all firms that operate workplace pension schemes have been required to establish and maintain an independent governance committee (IGC), which has a clear duty to act independently of the business. All IGCs must produce a publicly available annual report setting out information on the schemes’ value for ...
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ArticleCo-operative Group chief executive requests 60% pay cut
The Co-operative Group’s chief executive has requested a 60% cut to his total remuneration package.Richard Pennycook (pictured) will see his base salary reduce from £1.25m to £750,000 from July 2016.From 2017, the maximum annual incentive plan award will fall from 100% of base salary to 40% of base salary, and ...
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Article16% refer staff to Pension Wise
Less than one-fifth (16%) of employer respondents are referring their employees to the Pension Wise service, compared to 20% in October 2015, according to research by Close Brothers Asset Management.The latest Close Brothers business barometer, which surveyed 917 employers, also found that more than a third (36%) of respondents offer ...
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Supplier article
Pension changes: a year older, a year wiser?
Jonathan Watts-Lay, director, Wealth at Work, recently took part in a film interview with Employee Benefits to talk about the pension changes now it’s one year on.Freedom and choice in pensions was the most seismic change to our pension landscape for a generation and created a set of challenges and ...
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ArticleCo-operative Food to increase new starter pay by 1.8%
The Co-operative Group is increasing pay for new starters in its food stores by 1.8%.The increase follows a two-year pay deal agreed in 2015 that will see 40,000 employees working in frontline positions in its food business receive a pay rise of 8.5% by October 2016.The increases take pay levels ...
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Supplier article
Express: Johnson Fleming’s new SME auto-enrolment product
We are excited to announce that today we’ve launched Express – a new quick and simple solution for auto-enrolment.Express expands upon our existing suite of fully compliant auto-enrolment solutions, but goes further in providing smaller employers with a complete managed solution. Around 1.8 million employers are due to reach their ...
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Article50% of DB pension scheme members take up employer-paid financial advice
Half (50%) of defined benefit (DB) pension scheme members aged 55 and over have opted to speak to a financial adviser if offered this service for free by their employer, according to research by Willis Towers Watson.The research is based on data provided by financial advisory firms and examines 15,700 ...
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AnalysisHow much is a good-quality pension scheme really worth?
Offering a good-quality pension scheme that goes beyond the legal minimums can be an effective tool to recruit, retain and engage employees.What is the value to employers of offering a good-quality pension scheme?There is a very strong and increasing focus on pensions. With the move away from defined benefit schemes, ...
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Supplier article
ECB policy strengthens investment case for value & banks
By Rob Burnett, head of European Equities at Neptune The ECB delivered a strong package in its latest policy announcement that managed to find the right balance between supporting the economy and not endangering the banking system.The EU banking system is very sensitive to negative rates and, if the ECB ...
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Supplier article
Making your at-retirement strategy work: tips for employers
Listen again to the recent Workplace, Savings and Benefits webinar we recently supported, which looked at how employers can make their at-retirement strategy work.Pension freedoms were announced in April 2014 and implemented in April 2015. Within three months of implementation, more than £2.5 billion of payments had been made to ...
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ArticleOmbudsman upholds pensions tax complaint against police
The Pensions Ombudsman has upheld a police officer, Mr Cherry's complaint that his employer had a duty of care to inform him of the tax implications of re-employment on his retirement benefits.He was employed as a police officer with the Police and Crime Commissioner of South Wales from February 1982, ...