All Pensions articles – Page 97
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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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Supplier article
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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Supplier article
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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Supplier article
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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Supplier article
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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Supplier article
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.
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OpinionClive Lewis: Pension changes present an opportunity for employers to engage staff
Many employees are unconcerned about the value of their pension scheme, if they have a scheme at all, until they are close to retirement. Indeed, many employees are hard pressed to specify the benefits their workplace pension scheme offers.Two things are changing this situation. First, changes to the rules regarding ...
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AnalysisHow to differentiate a pensions offering to attract talent
Need to know:Pensions differentiation does not have to be all about contribution levels. The first step is to help employees understand the benefit.Master trusts can provide great tools and the complete panoply of post-retirement options.Behavioural science can be harnessed to improve pensions engagement, because employees are more receptive in certain ...
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Supplier article
Learn how pension tax allowance changes affect you
The pension tax allowances are changing (again).Join us at one of our breakfast seminars and help your employees avoid unwanted, unexpected and unnecessary tax charges and fines.Nobody wants to be stung with an unexpected tax bill or fine. But if you don’t know an employee’s total income, what can you ...
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ArticleGovernment confirms cap on early exit pension charges
The government has confirmed a cap on excessive exit charges for those accessing their pension pot early.On 19 January, chancellor George Osborne outlined a proposal to place a duty on the Financial Conduct Authority (FCA) to cap excessive early exit penalties.The FCA will be responsible for setting the level of ...
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Article30% are in favour of changing pensions tax relief
Less than a third (30%) of employer respondents are in favour of changing the tax relief available on pensions, according to research by Hargreaves Lansdown.Its survey of 345 employers also found that around half (53%) of those that support change favour a flat rate of tax relief, with 41% wanting ...
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Supplier article
Auto-enrolment figures – scores on the doors?
The Pensions Regulator (TPR) updated their monthly auto-enrolment (AE) figures this month and so it is an opportune moment to keep our followers informed as to progress on this key issue.The document (which can be read in full here) breaks down the AE data month by month. As of December ...
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Article23% pay a 5% contribution into employees' pensions
Around a quarter (23%) of respondents are paying a 5% contribution into their employees' pensions, according to research by Aegon.Its survey of 508 employers also found that 92% of respondents make a 2% contribution, ahead of this becoming the required minimum employer contribution rate under auto-enrolment from 2018.The research also ...
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Supplier article
The Perils of Passive Investing
The era of loose monetary policy created an environment that rewarded passive investors in the US. However, with the US raising interest rates for the first time since 2006, Felix Wintle explains why he believes active investing will be more important than ever.In the video Felix discusses:The rising cost of ...