Tags: Pension schemes

Income protection needed with introduction of pension freedom

The introduction of pension freedom and the need for employees to take more responsibility for their retirement planning is strengthening the case for employers to offer Group Income Protect cover. With only 11 percent of people currently receiving pension contribution protection MetLife suggests that more employers should offer this protection.

New auto-enrolment law introduced as 5m pension milestone reached

If you are over 22 and in work then you may be entitled to extra money from your employer A new government law means that all employers will soon be legally responsible to enrol their staff onto a workplace pension scheme. The new law means that a small percentage of your wage will be paid into…

PQM Ready gains traction with multi-employer pension schemes

Leading pension providers RPMI and The People’s Pension have become the latest multi-employer schemes to gain the new Pension Quality Mark (PQM) READY standard in recognition of their low charges, clear communications and strong governance. PQM READY is designed to help employers identify a good multi-employer pension scheme or master trust, and it aims to…

Avoiding the pitfalls of auto enrollment – A Practical View

After what has felt for many like an eternity, auto enrolment has finally arrived. As the UK’s largest employers complete the process, now is an ideal time to consider some of the lessons learned so that employers with auto enrolment on the agenda for 2013 can avoid some of the pain and pitfalls that may…

Clear Path Analysis launched a report: auto-enrolment for UK pension scheme

By 2018 the Government expects between 6-9 million more people to be saving in a workplace pension. Yet currently, 32% of people are not saving for retirement with 57% of these arguing that they cannot afford to. So how is the employer expected to integrate auto-enrolment into their core business activities without operational and de-risking…

Employees see flexible working as ‘business’ benefit

A survey by HR recruiter, Ortus, of some 450 professionals found that nine in ten think flexible working will become the dominant employment model in the near future. Despite this, just 12% deem flexible working to be a vital benefit, which is lower than the proportion who said a free company mobile phone is vital to…

ACA survey finds smaller firms have doubts about fewer, larger pension schemes

A major survey of pension trends in smaller firms with 250 or fewer employees conducted by the Association of Consulting Actuaries (ACA) has found the reactions to some of the ideas outlined in the Government’s recent workplace pension reinvigoration paper[1] are mixed. Firms without a pension scheme at present are more relaxed about large, multi-employer…

MidlandHR launched RTI and auto-enrolment ready solution

To help organisations meet two of the largest and most complex legislative changes in recent years, MidlandHR has launched its Real Time Information (RTI) and auto-enrolment (AE) ready solution. The RTI and Pensions Reform initiatives are part of the coalition government’s move towards resolving the imbalance between Government income and expenditure: RTI making a contribution…

Pension scheme trustees welcome training support from employers

Pension scheme trustees are benefiting from training support from employers with just one in ten surveyed saying they are not sufficiently trained to do their job, according to research1 from MetLife Assurance Limited (“MetLife Assurance”). The study shows 93% of trustees surveyed are happy with the support for training offered by sponsoring employers and 90%…