Bank of England latest interest rates rise by a quarter point is an attempt to halt inflation on the long term. Finance and pensions experts see the financial wellbeing of Britons increasingly worrying and feel that employers are not doing enough to help their staff. Lily Megson, Policy Director at My Pension Expert, said: “Another […]

The need to address workers’ financial wellbeing is growing with the looming recession and cost of living crisis affecting all of us.  Oddbox, the UK’s food-waste-fighting fruit and veg box, has signed up to Mintago to provide a financial wellbeing platform to its staff. Mintago is an FCA-regulated financial wellbeing company. It helps employees find all their […]

Retirees have put in decades of time and effort as part of their working life to prepare for retirement, counting on their pension to help maintain a comfortable future. However, the quality of state pensions varies drastically based on where you live – But which countries around the world have the best systems? Blacktower Financial […]

A recent poll conducted by WEALTH at work found that 84% of respondents think employees have changed their retirement plans in light of the pandemic. Jonathan Watts-Lay, Director, WEALTH at work, said: “The pandemic has affected nearly all of us and not least those employees who are approaching retirement. It therefore comes as no surprise that […]

There is a ‘gap’ between the amount that men and women receive in employer pension contributions, which if left unaddressed could result in a shortfall of £47,000 by the end of a woman’s working life, according to the inaugural Zurich Workplace Savings Barometer. Last year, on average, men under the age of 35 received £217 […]

Nearly one in five employees have built up three or more company pension funds during their career, making it more difficult to keep track of their retirement planning, new research from employee benefits consultancy Portus shows. Its nationwide study shows 17% of employees have built up three or more pension funds as they have moved […]

The Pensions and Lifetime Savings Association (PLSA) has published new research analysing the incomes different UK generations can expect in retirement. ‘Retirement Income Adequacy: Generation by Generation’ reveals that automatic enrolment will deliver a real improvement in the retirement outcomes of millions of people in the UK, but there is still room for improvement. Of the […]

To mark Financial Capacity Week, Just Retirement reveals that 58% of people have no idea how much their employer contributes to their pension and 43% would battle to identify how much they contribute themselves. New research of more than 3000 people over the age of 21 suggests that while workers value pension savings, they are […]

Research from Equiniti, a leading investment and pension technology company, shows that uncertainty about what to do is preventing savers from investing as much as they want to. A survey of more than 6000 savers and investors found that more than half (58%) do not save or invest as much as they want, with around […]

Taxation issues are the biggest source of inquiries for HR departments from members of company pension schemes, new research from employee benefits consultancy Portus shows. Two out of three (67%) HR departments say they have dealt with general tax inquiries, outstripping questions about fund values that have been dealt with by around 60% of HR […]

More than one in five company pension scheme members – the equivalent of 2.3 million workers – are disappointed with the performance of their retirement savings, new research from employee benefits consultancy Portus shows. Its nationwide study shows 21% of employees are concerned about the performance of their company pension scheme over the past two […]

Nearly one in seven over-65s are boosting their pensions by working, earning around £296 in addition per week, MetLife’s analysis of pensioners’ income statistics shows. The data reveals that the numbers of over-65s working has increased from just 8% of the pensioner population in the past 10 years to 13% – the equivalent of 1.1 million […]

Aviva’s Working Lives report shows both employers and employees have continued to welcome the Government’s decision to introduce auto-enrolment for company pension schemes. Three in five employers (61%) in Q1 2016 agree with making the workplace the focus for automatic pension savings – a slight increase from 58% in Q1 2013. Approval rises to 74% […]

A third of people aged over 50 who are employed in the private sector are now planning to retire later than they previously hoped, Aviva’s latest Working Lives report reveals. The 2016 report – which comprises research among UK private sector employers and employees – has a particular focus on workers aged over 50, following […]

The launch of the new Lifetime ISA could shift employer views on workplace savings schemes for younger workers, employee benefits consultancy Portus says. Under-40s can invest up to £4,000 a year tax-free in Lifetime ISAs from April 2017 to benefit from a 25% Government bonus on savings made before age 50 and take out the […]

Employers are shifting the responsibility of ensuring pension contributions do not break new lower annual allowances to staff, research from employee benefits consultancy Portus shows. Its study among HR directors across a range of sectors shows 60% of companies will ensure staff are fully informed of new rules but will rely on higher earners to […]

Salary sacrifice for pension contributions could be banned in the national budget to head off its use by higher earners to beat the introduction of flat-rate tax relief, employee benefits consultancy Portus warns. The schemes – which minimise National Insurance contributions for employers and employees and are currently used mainly by lower and middle earners […]

Employers are increasingly deciding that the safest course of action is to assume annual pension contribution allowances are limited to £10,000 for higher paid staff to avoid the risk of unexpected tax charges, leading employee benefits consultancy Portus warns. It says employers are worried their staff could face tax charges before it is too late […]