Unilever to close final salary pension scheme

Unilever has proposed to replace its final salary scheme with an average salary scheme and a defined contribution option.

Pensions industry welcomes Government's plans for new flat-rate state pension

The Government has published a consultation document detailing plans for a new flat-rate state pension meaning the existing means-tested arrangements would be replaced for new, but not existing,...

Phasing out the default retirement age: What this means for you

This month, the Government will begin to phase out the default retirement age (DRA). This means that employers will no longer be able to retire staff automatically using this procedure once they reach...

Simplify investment and pension options to engage employees, says Aon Hewitt

Employers are offering staff too many pension investment options, causing confusion and causing employees to make the wrong choices, research finds.

Companies need 18 months to be ready for auto-enrolment pension, says actuary

With 18 months to go until the implementation of rules requiring employers to auto-enroll staff into pension schemes, benefits consultants have warned employers they will need all this time to...

Minister calls for ‘single, simple, decent’ pensions

Minister for pensions Steve Webb has applauded the creation of a “single, simple, decent state pension”.

Budget 2011: Hutton’s pension reforms to go through

The Government is to implement Lord Hutton's recommendations on public sector pensions and is considering making similar changes to the pensions of MPs.

Wales and the West Midlands worst for pension provision, says survey

People in Wales and the West Midlands who have yet to retire are the least confident in Great Britain, that they will have enough money in their retirement, a newly released survey shows.

Pensions: Employers must ease concerns by improving financial capabilities following the Hutton Report

On the face of it, Lord Hutton’s recommendations call for public sector employees to work longer and pay more in order to receive less pensionable income at retirement. It doesn’t sound like a...

Pensions: The Hutton Review in a little more depth

After all the news stories about a radical shake up of public sector pensions what is actually being recommended, and what are the implications for HR departments?

Retirement incomes fall by a third over the last decade

The average British private sector worker saving in a defined contribution (DC) pension scheme has lost over £10,000 per annum of their future retirement income since the Millennium, according to the...

Default retirement age: It's time for employers to ask themselves some tough questions

Occupational pensions have historically comprised an important element of the package of benefits most employers offer their workers, but this tradition is changing as a result of tough economic...

Pensions