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Epson UK completes £60 million pension buy-in

Employee Benefits

Electronics business Epson UK has completed a £60 million pension buy-in for its Epson UK Pension Scheme. The deal, which was carried out with financial services firm Just Group and scheme trustee Dalriada, secures the benefits of 113 pensioners and 289 deferred members.

Pension 59
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Deloitte gives staff control with flexible pension policy

Employee Benefits

In October 2022, professional services firm Deloitte introduced a flexible pension policy that gave its 22,000 UK employees more control over their finances, while still centring the importance of retirement savings. We deliberately structured the new policy to be more pro pensions than it was.

Pension 72
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46% of UK employers prioritise positive DC pension scheme outcomes

Employee Benefits

Nearly half (46%) of UK employers with defined contribution (DC) pension schemes say that delivering positive outcomes for members in this scheme is now their top priority, according to research by global professional services firm Aon.

Pension 105
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Interserve completes £400 million pension scheme buy-in

Employee Benefits

Interserve, a construction firm that went into administration in 2019, has completed a £400 million buy-in for its pension scheme members. The transaction was conducted with provider Aviva, and secured the benefits of more than 7,000 scheme members and follows a £300 million pensioner-only buy-in that took place in 2014.

Pension 59
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30% of staff prefer CDC pension for decumulation over an annuity or drawdown

Employee Benefits

Almost one-third (30%) of UK defined contribution (DC) savers said they prefer a collective defined contribution (CDC) pension for a decumulation option at retirement instead of an annuity or drawdown, according to new research. Those who preferred annuities over CDC pensions cited the lower risk of an annuity as their reasoning.

Pension 52
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20% of DC pension members opting out or reducing savings

Employee Benefits

One in five defined contribution (DC) pension schemes reported an increase in requests to reduce or opt out of pension savings over the past three months, according to research by Aon. This edition included responses from 132 UK DC pension schemes.

Pension 59
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University of Salford targets communications at specific employee groups

Employee Benefits

Based in Greater Manchester and with 3,000 employees, the university was a runner up in the Best financial wellbeing strategy at this year’s Employee Benefits Awards. These are hosted twice a year by a professional consultancy firm and are free of charge. They pass this on through meetings with each department.

Pension 98