All Pensions articles – Page 98
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Case StudiesWelcome Break plans for smooth pensions re-enrolment
The motorway service operator began planning for its initial auto-enrolment six months prior to its staging date in June 2013, and found that by working with advisory service Aspira it was able to ensure a relatively smooth operation once the first contributions were made.Welcome Break operates two pension schemes for ...
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AnalysisWhat opportunities does pensions auto-re-enrolment bring employers?
If you read nothing else, read this…At the auto-re-enrolment stage, employers will need to re-enrol eligible staff into a pension scheme.It is an ideal opportunity for employers to review the systems and processes they have in place for auto-enrolment, as well as looking at the support they receive from their ...
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ArticleNest appoints new chief executive officer
Nest Corporation has appointed Helen Dean chief executive officer.Dean (pictured) is currently executive director, product and marketing at Nest.She will take up her new position this autumn, succeeding existing Nest chief executive, Tim Jones.Otto Thoresen, chair of the National Emp[loyment Savings Trust (Nest), said: “It’s fantastic news that we have ...
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ArticleOne million calls to insurers in month after pension freedoms
An announcement published by the Financial Conduct Authority (FCA) yesterday (1 July), states that over one million calls to insurers were made in the first month of the pension freedoms being in place. This represents an 80% increase year-on-year, and a significant rise in activity since the pension reforms came ...
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ArticleRetirement income a priority for half of retirees
Almost half (47%) of adults feel that securing a guaranteed retirement income is a priority when covering essential expenses, according to a study from asset management firm Fidelity Worldwide Investment.The study, which surveyed 1,014 UK adults over the age of 55, also found that just 39% plan to purchase an ...
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ArticleOracle revamps financial education programme
EXCLUSIVE: Oracle has revamped its financial education programme for its 5,800 UK employees.The technology firm opted to revamp its financial education programme and introduce pensions advice to counteract the challenges surrounding the ageing workforce.To highlight the importance of the programme, which is provided by Secondsight, Oracle introduced a strategic email ...
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OpinionEffective financial education for those considering retirement
The most radical pensions overhaul in nearly a century has arrived. These changes offer employees in a defined contribution (DC) scheme who are aged 55 or over greater flexibility in how to access their pension. But without the right financial education, employees could be left incredibly vulnerable to making poor ...
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Article
Pension freedom charges differ vastly
The difference in charges between the cheapest and most expensive companies offering income drawdown under the pension freedoms could total £3,000 over 10 years, according to research by Which?Its analysis of eight insurance companies and ten investment brokers offering full pension freedom found that an individual with a pension pot ...
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ArticleCarlsberg UK introduces financial education
EXCLUSIVE: Carlsberg UK has introduced a financial education and wellness programme for its 900 employees in an attempt to develop their overall wellbeing.The brewing firm already has an employee wellness programme in place, which includes health checks and assessments and health insurance. It has now added financial education to complete ...
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ArticleMore staff are seeking pensions advice from employers
Over a third (37%) of employers believe that the pension freedoms have encouraged them to play a greater role in financially educating their employees.The study from Close Brothers Asset Management, which surveyed 685 employers, also found that 33% of respondents have seen an increase in staff seeking advice on their ...
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ArticleGovernment to actively monitor salary sacrifice
Summer Budget 2015: No immediate changes to salary sacrifice schemes were announced by Chancellor George Osborne during his Budget speech yesterday (8 July).However, in the Budget documents it is noted that the government will actively monitor salary sacrifice schemes and their impact on tax receipts.The documents state: ‘Salary sacrifice arrangements ...
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ArticlePearson makes £90m pension pledge
Pearson will make a £90 million contribution to its group pension plan following the sale of the Financial Times Group to Asian media organisation Nikkei Inc.Pearson has also committed to funding its group pension plan to self-sufficiency in the near-term.The agreement with Nikkei was announced on 23 July. The assets ...
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Article83% opt to take entire pension pot in cash
Since the introduction of the new pension freedoms in April, 83% of those that have taken up the new options have chosen to take all of their pension savings as cash, according to data from BlackRock’s workplace pensions business. Data based on 1,152 people aged 55 and over who have ...
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Article61% to work past target retirement age if savings are insufficient
Around two-thirds (61%) of UK employees plan to continue working if they have not saved enough by their target retirement age, according to research from Aegon.The study, which surveyed 4,000 UK adults, also found that 64% of respondents are not confident about retiring at their target age of 63.The research ...
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Article26% of older workers do not want education on retirement issues
Around a quarter (26%) of respondents between the ages of 56-65 do not want any financial education on retirement and pensions issues, according to research by financial solutions organisation Partnership.The research, which surveyed 2,000 people over the age of 21, also found that 18% of 21-30 year olds did not ...
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Article£1.8 billion withdrawn in first two months of pension freedoms
Almost a quarter of a million payments worth £1.8 billion were made to consumers from pension pots in April and May following the introduction of the pension freedoms, according to research from the Association of British Insurers (ABI).The data reveals that £1.3 billion was put in to buying nearly 22,000 ...
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ArticleIBM granted appeal against pension judgement
IBM has been granted permission to appeal both the breaches and remedies judgements made by a High Court in February 2015 to the higher courts.The decision made by the High Court ruled that members of the organination’s UK defined benefit (DB) pension scheme would be able to claim damages against ...
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Article
Barclays C&ES closes to new business
Employee benefits consultancy Barclays Corporate and Employer Solutions (C&ES) will cease to offer its services to new business following a consultation by Barclays. Its benefits consultancy services and auto-enrolment consulting will close and will not be open to new employers.Barclays will continue to honour existing employer client commitments within these ...
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ArticlePensions seen as safest way to save for retirement
Workplace pension schemes are now seen as the safest way to save for retirement, according to research by the Office for National Statistics (ONS).Its Wealth and assets survey found that confidence has increased with 40% of individuals citing a workplace pension as the safest option to save in the period ...
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ArticleTata Steel improves DB pension plans
Tata Steel has made a new offer to employees, which will see its final salary pension scheme remain open and avert strike action.More than 17,000 employees that are members of trade unions Community, Unite, the GMB and UCATT were due to walk out for 24 hours on 22 June.The dispute ...