UK Archives - Page 103 of 193 - Pension Policy International

25AprApril 25, 2022

UK. One in five leaving retirement planning till aged 60

One in five people have said they would leave planning their retirement until they were aged at least 60, a survey by Hargreaves Lansdown has revealed. Hargreaves Lansdown warned that leaving retirement planning so late could be dangerous for savers, cautioning that the later planning is left the less time there is to make up any contribution shortfalls, which may limit choices. The client survey, which was carried out in January 2022 and consisted of 400 customers, also found that a...

April 25, 2022

News2022, Pension design, Retirement Planning, UK

22AprApril 22, 2022

UK. TPR issues Contribution Notice following “inappropriate” management buy-out

Scharf AG, a German mining equipment business, has received a notice from TPR to contribute just over £2m to the pension scheme of its former subsidiary. This blog post will be relevant if you are considering corporate transactions and operate a DB pension scheme in the UK. This case shows the importance of taking specialist advice on TPR’s wide powers to protect pension savers. Background In 2013, Scharf sold a UK subsidiary business (the Dosco Group, which was a manufacturer and supplier...

April 22, 2022

News2022, Regulation, UK

21AprApril 21, 2022

UK. Workplace pension of £65,400 in public sector six times more than private average

The number of people saving in workplace pensions has risen slightly, with the average pension value standing at £65,400 in the public sector compared to just £10,300 in the private sector. Overall, 79% of eligible employees, or 22.6 million, were participating in a workplace pension in April 2021, up slightly from 78% in 2020, according to the Office for National Statistics (ONS). The ONS said that the growth was partly explained by “increased public sector employment driven by the government's response...

April 21, 2022

News2022, Income, UK

21AprApril 21, 2022

UK. Union threatens to sue over Uber’s failure to offer ‘sharia compliant’ pension plan for Muslim majority workforce

The gig economy workers’ union has threatened to take Uber to court over its failure to offer a “sharia compliant” pension plan for its Muslim majority workforce. The App Drivers & Couriers Union (ADCU) has threatened to sue Uber for failing to provide a pension offering that complies with the tenets of Islamic beliefs, after claiming that the firm’s failure to do so breaches UK equality laws. The ADCU called on Uber to take action within the next 14 days to...

April 21, 2022

News2022, Coverage, Pension design, UK

19AprApril 19, 2022

UK. PensionBee publishes gender pay gap figures for 2021

PensionBee, a leading online pension provider, has revealed a median hourly pay gap of just 1.6%, and a median bonus pay gap of 0% among its staff, as at 31 December 2021. The gap is in line with PensionBee’s target of 0%, with a variance of +/- 5% owing to the overall size of the employee base. This is the second year that PensionBee has voluntarily reported on its pay gap, as part of its commitment to wage equality, in...

April 19, 2022

News2022, Gender Gap, UK

14AprApril 14, 2022

UK. Can retirement savers make their pension greener?

Pension savers are apparently turning their attention towards environmental, social and governance factors amid the increasing prevalence of ESG investing. Two-thirds (67 per cent) of consumers believe it is important to consider ESG factors before investing, rising to seven in 10 (72 per cent) for those with a pension, according to a survey from Aviva last year. When it comes to defined benefit pension funds, it will be down to the trustees who take advice from a consultant to decide what...

April 14, 2022

News2022, ESG, Pension design, UK

11AprApril 11, 2022

UK. Benefits and state pension increase outpaced by rising prices

A 3.1% rise in the state pension and various benefits has now taken effect but charities have warned it fails to tackle cost of living pressures. Official figures show that prices are rising twice as fast, and they are expected accelerate further. Read also UK. Can retirement savers make their pension greener? The government said it recognised people's difficulties and was helping. Late last year, ministers decided to temporarily cut the state pension's link to average earnings, which would have led to an...

April 11, 2022

News2022, Adequacy, Income, UK

08AprApril 8, 2022

UK. Penfold: London weighting – how the capital is adopting better saving habits

New research released today from Penfold, the digital pensions platform, reveals Londoners are the least likely group in the UK to spend more than they save each month, despite the higher cost of living in the capital. Half (50%) of those in London say they spend more on non-essentials including eating out and events, the lowest of any region and compared to 64% of people in the East Midlands, 66% in Wales and 62% in the South East (see...

April 8, 2022

News2022, savings, UK

07AprApril 7, 2022

ESG and Private Market Assets: Pension and Insurance Investors Shifting the Trillions (2022 – 2026)

By M. Nicolas J. Firzli, Nick Sherry & Guan Seng Khoo The co-authors of the article, are amongst the original coiners of term such as “infrastructure as an asset class” and “pension superpowers.” They also predicted, at the onset of the Covid Crisis, that a “historic realignment on the asset allocation front is happening precisely at the moment when ESG is moving centre stage: even in once staunchly neoliberal jurisdictions like Texas, Alaska or Switzerland, the smart money is betting...

April 7, 2022

Articles, Investment, Pension Management2022, ESG, Regulation, UK

07AprApril 7, 2022

UK. How to think about sustainable investing for the long term

Although funds that broadly fit within the environmental, social and governance universe have grown rapidly in recent years – to the point where they now account for around 5 per cent of the total assets of UK retail funds – in a world of exceptional volatility, can an adviser really think long term about sustainable investing? For Kate Elliot, head of ethical, sustainable and impact research at Rathbone Greenbank Investments, the regulatory outlook for providers is unlikely to look radically...

April 7, 2022

News2022, ESG, Investment, UK

April 2022