All Pensions articles – Page 96
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Analysis
33: LV= industry insight - Good retirement advice is key to good retirement outcomes
The radical changes to pensions mean that employees now have much greater flexibility and choice over how to access their pensions than ever before. The ability to take as much as you like from your pension when you like, combined with the tax changes to allow wealth transfer, offers the ...
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ArticleHeineken agrees £2.4bn pension longevity swap
Heineken has entered into a longevity transaction for its defined benefit (DB) pension scheme with Friends Life, which is now part of Aviva.The longevity swap transaction covers £2.4 billion of pension liabilities and insures the longevity risk for 19,000 pensioners who are part of the Scottish and Newcastle Pension Plan.The ...
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ArticleNational Grid agrees £13bn defined benefit pension mandate
The board of trustees of the National Grid UK Pension Scheme (NGUKPS) is entering into a long-term agreement with Legal and General Investment Management (LGIM) for the management of £13 billion of the scheme’s assets.LGIM will acquire 100% of the share capital in Aerion Fund Management, which is fully owned ...
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Article66% are saving adequately for retirement
Two-thirds (66%) of respondents employed by large organisations are now saving adequately for retirement, compared to 53% in 2013, according to research by Scottish Widows.Its Workplace pensions report, based on responses from 5,191 UK adults, also found that more than half (54%) of those enrolled in a defined contribution (DC) ...
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OpinionBill Longe: What if pensions tax relief was scrapped?
“When you see someone putting on his big boots, you can be pretty sure that an adventure is going to happen.” AA Milne, Winnie-the-Pooh. Another Budget and yet more changes to pensions tax relief. Coupled with the announcement of further consultation on the subject, it is not difficult to reach ...
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ArticleTake part in exclusive pensions research
How well do your employees understand the pension reforms? What financial education strategies are you using to support staff?Tell us in the exclusive Employee Benefits/Close Brothers Pensions research 2015, which is designed to help you benchmark your organisation’s pensions strategy.We are particularly interested in finding out how the pension reforms ...
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Article44% feel somewhat knowledgeable about retirement savings
Less than half (44%) of respondents consider themselves to be somewhat knowledgeable about retirement savings and financial matters, according to research by State Street Global Advisors.Its 2015 SSGA Global Monitor study, which is based on responses from 3,500 staff in the US, UK, Australia and Ireland, also found that 30% ...
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Article43% plan to offer pension drawdown option
Less than half (43%) of respondents plan to offer a drawdown option as part of their pension plan, according to research by Towers Watson’s UK DC master trust, LifeSight.Its survey of 100 employers also found that 87% of respondents believe that their employees will want to access some or all ...
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Article36% of 51-60 year olds have no pension plans
Over a third (36%) of 51-60 year olds have no pension provision, according to research by the Chartered Institute of Payroll Professionals (CIPP).Its survey of 2,010 employees also revealed that around a third (30%) of respondents are not sure if their pension savings are enough to retire on.The study also ...
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Article32% will not review defined contribution pension schemes
Almost a third (32%) of respondents do not plan on reviewing or adjusting existing defined contribution (DC) pension services for employees following the introduction of the pension flexibilities in April, according to research by Close Brothers Asset Management.Its latest Business barometer survey, which questioned 685 employers, also found that 34% ...
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Article96% foresee changes to state pension
Just 4% of financial advisers believe the state pension will continue in its present form over the next 30 years, according to research by pension provider Aegon UK.Its survey of 208 financial advisers found that almost half (49%) of respondents that think there will be changes to the current system ...
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ArticleBovis Homes' DB pension scheme moves to £9.8m surplus
Bovis Homes’ defined benefit (DB) pension scheme has moved from a deficit of £0.7 million to a surplus of £9.8 million, its first half 2015 interim results revealed.The housebuilding organisation’s DB pension scheme assets rose to £111.8 million from £103.4 million in the six months to 30 June 2015.Its scheme ...
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Article40% want pensions to be taxed like Isas
Some 40% of respondents want pensions to be treated in a similar manner to individual savings accounts (Isas) because they would prefer to be taxed while working rather than in retirement, according to research by PricewaterhouseCoopers (PWC).The survey of 1,197 working UK adults, published in August 2015, also reveals that ...
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ArticleJust Retirement and Partnership Assurance to merge
Just Retirement Group and Partnership Assurance Group are to merge to create JRP Group.The boards of the two annuity providers have agreed on the terms of a recommended all-share merger. Just Retirement shareholders would own a 60% stake in JRP Group, with Partnership Assurance owning the remaining 40%.In addition to ...
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ArticleEmployers paid £7bn towards DB pension deficits in 2014
Respondents paid £7 billion towards their defined benefit (DB) pension deficits in 2014, according to research by Barnett Waddingham.The research, which is based on publically disclosed pension accounts from 218 FTSE 350 organisations, also revealed that aggregate pension deficits have reached their highest level in five years, and employee pension ...
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Video
Auto-enrolment: The journey so far and the challenges ahead
// The three-minute video tutorial above covers:What are the challenges of auto-enrolment?How can employers choose a suitable pension scheme for employees?How can employers ensure ongoing compliance?What stance will The Pensions Regulator be taking on enforcement?What is the difference between software and ...
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ArticleVolkswagen launches pension sessions for staff
EXCLUSIVE: Volkswagen has introduced educational classes about the pension freedoms for its 960 UK staff.The classes were designed following the pension flexibilities, which were first announced in the 2014 Budget. The first session was launched at the end of June 2015, with more seminars planned for September and November.The organisation ...
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ArticleMicrosoft US enhances benefits package
Microsoft US is to enhance its parental, holiday and 401(k) pension benefits.The technology giant, which employs 59,853 staff in the US, is introducing its enhanced benefit offerings with the aim of fostering a supportive workplace culture that embraces diversity and inclusion. An enhanced parental packageFrom November 2015, its US-based staff ...
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Article59% believe they do not require pensions advice
Over half (59%) of respondents believe they do not require pensions and retirement advice when planning to make a withdrawal from their pension pots, according to research by Money.co.uk.The study, which surveyed 669 over 55-year-olds with a pension, also revealed that just one in five (20%) of respondents that are ...
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Article20% would save more than auto-enrolment default
One-fifth (20%) of respondents would increase the amount they contribute to their pensions beyond the minimum auto-enrolment contribution rate, according to research by Aegon.Its research, which is based on a sample size of 4,000 respondents, found that just 6% consider the 2018 default contribution rate of 5% to be unaffordable.Nearly ...