Up to 69% of employers confess they still do not understand the requirements and cost implications of auto-enrolment of employees into a pension from 2012 – even though the admin alone could cost £1,000 per worker, per year.
Posts Tagged ‘Co-Operative Bank’
Pension changes 'not understood' by most employers – could cost £1,000 per employee
Monday, June 21st, 2010Government reviews plans for NEST company pensions
Monday, June 7th, 2010Government is looking again at plans for company pensions in the NEST scheme. Pensions minister Steve Webb has said he will review the ‘scope’ of the scheme, which currently aims to offer company pensions universally, to all employees.
Nationwide struggles with deficit in company pension scheme
Tuesday, June 1st, 2010Nationwide’s deficit in its company pension scheme increased from £40m to £331m last year. Nationwide is the latest company to be hit by spiralling pensions commitments, as high quality but high cost final salary pension schemes are closed across the nation. Read more about the decline of the final salary pension here
Company Pensions – ‘end of road’ for final salary schemes
Friday, May 28th, 2010Fifteen of the FTSE 100 companies now have company pensions liabilities that are greater than the equity market value of the company. Experts predict that this spells the end of the final salary pension scheme.
Pension planning critical as UK comes ‘under new management’
Tuesday, May 11th, 2010The pensions landscape is braced for further changes, as a new Government is expected to continue reshaping pensions provision in the UK. The only certainty is that pension planning by the individual has never been more critical, in an age when other stakeholders seek only to reduce their commitment to pensions provision.
Company pensions advice critical for high earners – PCS
Monday, May 10th, 2010
New rules on taxation may mean that standard company pensions are now an inefficient way of retirement saving for high earners, according to the pension benefits consultancy Pension Capital Strategies (PCS). Quality pensions advice from qualified specialists is needed to evaluate the new realities for members of company pensions schemes.
Company pensions for all in NEST pensions review
Monday, April 26th, 2010
Every UK company will soon be required to offer pensions to all employees, following the launch of the National Employment Savings Trust (NEST). However, employers who act now can still exempt themselves from NEST by setting up their own scheme.
High earners tax may miss target
Thursday, March 11th, 2010Government plans to review tax on high earners could hit many on salaries lower than the £130,000 target group. Those who receive a performance-related bonus, for instance, could be subject to hefty tax recovery charges.
Pension Transfer Advice
Tuesday, February 23rd, 2010It is important, when considering a pension transfer, that the correct assessment has been carried out on your existing pension, as well as a pension review on the pension product or wrapper that you are moving to.
Company pension schemes creaking under weight of deficits – PPF
Tuesday, February 9th, 2010
Three-quarters of final salary company pension schemes in the UK are now in deficit, potentially jeopardising the pensions provision of thousands of workers, according to the Pension Protection Fund.
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